A US research group has said that its measure of US economic activity rebounded in September, pointing to 'slow but steady' growth.
The Conference Board said its index of leading economic indicators, a gauge of activity in the coming six to nine months, increased 0.3% to a reading of 137.9 after a revised fall of 0.8% in August.
The figure, in line with Wall Street forecasts, was the third rise in the past six months as the index has swung back and forth.
'While the financial markets gyrated and the slump in housing intensified, the economy continued to perform at a slow but steady pace,' said Conference Board economist Ken Goldstein.
The index of current activity increased 0.2% following a 0.1% increase in August. The lagging index, which covers the coming months, advanced 0.5% following a 0.3% gain in August.
