NEW YORK, July 22 (UPI) -- The U.S. index of leading economic indicators dropped in June, suggesting slower growth in manufacturing and services, the Conference Board said Thursday.
In June, the headline index dropped 0.2 percent, following a 0.5 percent rise in May. The coincident index, measuring current business conditions, was unchanged in the month after rising 0.5 percent a month ago.
"The indicators point to slower growth through the fall," said Conference Board economist Ken Goldstein in a statement.
Goldstein said "two trends" would put the brakes on further expansion. "The industrial core of the economy will moderate as inventory rebuilding slows," he said.
Secondly, he said, "The service sector has been relatively slow (to improve), with little indication that it will pick up momentum."
Taking a more optimistic viewpoint, economists Ataman Ozyildirim said in June economic improvement was "widespread, with the exception of housing permits and stock prices."
Indicators, nevertheless, point to "a slower pace" of expansion in July through December, he said.