The Conference Board says its index of leading indicators, designed to forecast future economic activity, dipped 0.1 percent in August after rising 0.5 percent in July and dropping 0.5 percent in June.
The weakness in August came from declines in manufacturing orders, consumer confidence and average weekly manufacturing hours. Conference Board economist Ken Goldstein says the index depicts an economy still facing significant domestic and international weakness.
The overall economy grew at an annual rate of just 1.7 percent in the April-June quarter. Many economists believe growth will stay weak in the second half of this year.