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Leading Economic Indicators Index in U.S. Rose 0.7% in August

Sept. 19 (Bloomberg) -- The Conference Board’s index of leading economic indicators increased 0.7 percent in August, the New York-based group said today.

The median forecast in a Bloomberg survey of economists called for a 0.6 percent advance. Estimates of 44 economists ranged from increases of 0.2 percent to 0.8 percent.

Another report today showed jobless claims in the U.S. rose less than forecast last week as two states began working through a backlog of applications that were caused by computer-system changeovers.

Applications for unemployment benefits climbed by 15,000 to 309,000 in the week ended Sept. 14 from a revised 294,000 in the prior period, a Labor Department report showed in Washington. The median forecast of 53 economists surveyed by Bloomberg called for an increase to 330,000.

To contact the reporter on this story: Lorraine Woellert at Jsmialek1@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

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