The Conference Board publish their Leading Economic Index (LEI), the June result was out on Thursday, at -0.7%
- expected -0.6% prior -0.6%
- 15th fall in a row
- weakening consumer outlook and increased unemployment claims cited as reasons for the fall
Reuters have the reports:
- “Taken together, June’s data suggests economic activity will continue to decelerate in the months ahead,” Justyna Zabinska-La Monica, senior manager of business cycle indicators at The Conference Board, said in a statement. The Conference Board reiterated its forecast that the U.S. economy is likely to be in recession from the current third quarter to the first quarter of 2024.
“Elevated prices, tighter monetary policy, harder-to-get credit, and reduced government spending are poised to dampen economic growth further,” Zabinska-La Monica said.
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Recession warning have been around for over a year, well over a year. There is no sign of one yet.
More from Reuters at that link above.
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And I’ve given up wondering why the ‘leading’ index for June was published in the back half of July.
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NASDAQ fell on Thursday, but its had a stellar run this year.
This article was written by Eamonn Sheridan at www.forexlive.com.
