ECONOMY

Gauge of future health of US economy posts solid 0.6 percent gain in June

FILE - In this June 1, 2015, file photo, Robin Rockey, of the Southern Nevada Water Authority, walks through a tunnel still under construction beneath Lake Mead near Boulder City, Nev. The Conference Board reports on its index of leading economic indicators for June on Thursday, July 23, 2015. (AP Photo/John Locher, File)

FILE - In this June 1, 2015, file photo, Robin Rockey, of the Southern Nevada Water Authority, walks through a tunnel still under construction beneath Lake Mead near Boulder City, Nev. The Conference Board reports on its index of leading economic indicators for June on Thursday, July 23, 2015. (AP Photo/John Locher, File)  (The Associated Press)

An index designed to predict the future health of the U.S. economy posted another solid increase in June, providing further hope that the economy will gain momentum in the second half of this year.

The Conference Board says its index of leading indicators rose 0.6 percent in June following healthy gains of 0.8 percent in May and 0.6 percent in April.

Conference Board economists say the string of solid increases point to continued economic strength for the rest of this year. The June advance was supported by strength in applications for home building permits and favorable interest rates.