U.S. leading indicator slip on building permits

WASHINGTON (Reuters) - A gauge of future U.S. economic activity fell in July after four straight months of gains, weighed by a sharp decline in permits for home building.

The Conference Board said on Thursday that its Leading Economic Index slipped 0.2 percent after an unrevised 0.6 percent increase in June.

Economists polled by Reuters had forecast the index rising 0.2 percent last month.

"Despite a sharp drop in housing permits, the U.S. LEI is still pointing to moderate economic growth through the remainder of the year," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board.

(Reporting By Lucia Mutikani; Editing by Chris Reese)

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