A gauge of future U.S. economic activity held at a near five-year high, pointing to an economy that continues to grow at a moderate pace.

The Conference Board said on Thursday that its Leading Economic Index was flat at 95.3 last month, after a revised 0.2 percent increase in May.

Economists polled by Reuters had expected a 0.3 percent gain after a previously reported 0.1 percent rise.

"Some segments of the economy are turning around faster than others, resulting in positive but moderate growth. The biggest uncertainties remain the pace of business spending, the improvements in consumer spending power and the impact of slower global growth on U.S. exports," said Ken Goldstein, an economist at The Conference Board.