The UK leading indicator of economic activity rose during June to its highest level for nine months. The index hit 100.0 in June from 99.6 the previous month, according to economic and financial research group NTC. This is the highest level for the leading indicator in nine months, and brings the index up to its long-term trend, NTC said. The index has risen for three straight months, "suggesting that UK economic growth is likely to pick up in the first quarter of 2004," NTC said. The rise was helped by a general improvement in sentiment after the Iraq war, better stock prices, and an improvement in the UK car market in June. Today's reading confirms NTC's report earlier this month that business activity across most of Britain is gathering steam, raising hopes for a resurgence in the economy in the second half of the year. Ten out of 12 regions of the UK saw increased activity among private sector businesses during June, according to the survey of company purchasing managers//www.fxcentre.com