Thursday, Aug. 18, 2005 | 9:34 a.m.
NEW YORK -- An important gauge of future economic activity rose a sluggish 0.1 percent in July, suggesting that higher oil prices and rising interest rates are tempering the nation's economic growth prospects.
The New York-based Conference Board said today that its Composite Index of Leading Economic Indicators registered 138.3 in July following a revised increase of 1.2 percent to 138.1 in June. The index was unchanged in May.
The July results were in line with economic analysts' projections.
The index is watched closely because it is designed to predict economic activity over the next three to six months.
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