The U.S. economy grew rapidly in June and is likely to maintain its recent momentum, according to the leading economic indicators. The index increased 0.7% last month, the Conference Board said Thursday. "While month-over-month growth slowed somewhat in June, the LEI's overall upward trend - which started with the end of the pandemic - induced recession in April 2020-accelerated further in the second quarter," said Ataman Ozyildirim, director of business cycles research at the board." A measure of current conditions rose 0.4%, while a "lagging" index was unchanged. The LEI is a weighted gauge of 10 indicators designed to signal business-cycle peaks and valleys.