BUENOS AIRES -(Dow Jones)- Argentina’s Torcuato di Tella University said Tuesday that its closely followed index of leading economic indicators inched higher in August, though it continued to point to weaker growth in the months ahead.
The index, which measures 10 key economic indicators, rose 0.2% on the month and was up 9.7% on the year to 212.5 points in August, the university, known as UTDT, said in a statement.
The index, which is used to predict the likelihood of a recession, «suggests a deceleration in economic activity over the coming months,» UTDT said.
The chances of a recession eased to about 40% from 45% in July.
The index is conceptually similar to the Conference Board index in the U.S., which tries to predict turning points in the economy.
-By Ken Parks, Dow Jones Newswires; 54-11-4103-6740, ken.parks@dowjones.com
Source: Dow Jones