An employee arranges flat screen television inventory at the ABT warehouse in Glenview, Illinois.

A gauge designed to predict the economy's future health rose in September, reversing the prior month's sluggishness amid a broad-based pick up in economic activity.

The Conference Board says its index of leading indicators rose 0.8 percent last month, the eighth straight increase. But that was much slower than the revised 1.1 percent gain in July.

"The financial markets are reflecting turmoil and unease, but the data on the leading indicators continue to suggest moderate growth in the short-term," said Ken Goldstein, Economist at The Conference Board.

"Meanwhile, the weak advances in the housing market remain a bigger risk to the outlook than short-term financial gyrations."

