LONDON, Sept. 9 (UPI) -- The Leading Economic Index for Britain was higher in July for the second consecutive month, the Conference Board said Tuesday.
The index rose 0.3 percent to 104.4 after rising 0.6 percent in May, then falling flat in June, the Conference Board said.
The index assigns a base value of 100 to the year 2004. A number above 100 shows the indicators have risen compared with the average for the index in 2004. Conversely, if the index falls below 100, they are lower than the average for 2004.
Conference Board senior economist for Europe Jean-Claude Manini said the index indicates Britain's economy, "remained on a rising trend ... signaling positive but subdued economic growth for the near term."
However, Manini said risks to growth are increasing. "The new bout of financial market volatility and the recent decline in consumer confidence suggest a further worsening of the balance of risks to the outlook," he said in a statement.
"As there is little prospect for additional economic policies to support economic activity in the short term, weak and volatile growth should prevail in the foreseeable future," he said.
