An index designed to predict the future health of the economy rose by a modest amount for a second straight month, indicating the economy's momentum may have slowed.

The New York-based Conference Board says its index of leading indicators rose 0.2 percent last month, matching the January Increase. The gains in both months were the smallest since the index rose by just 0.1 percent in August.

Conference Board economists say that the index may be signaling a period of more moderate activity with overall growth held back by weakness in manufacturing and business investment.