Leading U.S. indicators up slightly

NEW YORK, Oct. 21 (UPI) -- The U.S. index of leading economic indicators rose a modest 0.3 percent in September, the Conference Board said Thursday.

Economists had forecast a 0.2 percent rise. Instead, the index matched the August's 0.3 percent rise and came in ahead of July's 0.1 percent gain.

The headline index rose to 110.4. Despite gaining for three months, however, Conference Board economist Ataman Ozyildirim said the index "is growing at the slowest pace since the middle of 2009."

In spite of the indicator sleepwalking forward, "There isn't any indication of a relapse into another downturn through the end of the year," he said.

"More than a year after the recession officially ended, the economy is slow and has no forward momentum," said Conference Board Economist Ken Goldstein.

The coincident index, measuring current business conditions, was unchanged in the month at 101.4 after remaining flat in August and rising 0.1 percent in July.