Recession ‘Near’ as US Leading Economic Index Drops for Tenth Straight Month
https://www.theepochtimes.com/recession-near-as-us-leading-economic-index-drops-for-tenth-straight-month_5066011.html?utm_source=partner&utm_campaign=BonginoReportThe United States is approaching a recession, as a closely watched economic index dropped for the tenth straight month in January, for the longest slump since the Lehman Brothers collapse in 2008.
The Conference Board Leading Economic Index (LEI), released on Feb. 17, declined by 0.3 percent in January, following an 0.8 percent contraction in December.
The index fell 3.6 percent between July 2022 and January 2023, compared with a 2.4 percent drop from January to July of last year, as lackluster consumer spending is predicted for the rest of the year, pointing to a recession.
Several indicators are being blamed for the decline, including a shorter average workweek for employees, weaker manufacturing orders, and lower consumer expectations.
The Conference Board Leading Economic Index (LEI) has been dropping for the past 10 months. It is the longest since 2008. Recession is happening or already starting to happen.
