Report: US Economy To Grow More Slowly

Posted July 21st, 2011 at 10:30 am (UTC-5)
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A private research group predicts that the U.S. economy will grow more slowly in the next few months.

Thursday’s report from the Conference Board says its index of leading economic indicators rose three-tenths of a percent in June, which is a smaller rise than the prior month.

The index is designed to predict economic conditions three to six months in the future.

A separate report from the Labor Department says the number of Americans signing up for unemployment compensation rose a bit last week.

The number of workers laid off by U.S. companies rose by about 10,000 to reach a weekly total of 418,000.

Some economists say in a healthy job market, jobless claims stay below 400,000. This is the 15th week in a row unemployment claims have been above that level.

The U.S. unemployment rate is now 9.2 percent, but U.S. economic officials say it will probably decline later this year.