Economic index flashes major recession warning sign
https://www.foxbusiness.com/economy/economic-index-flashes-major-recession-warning-signAn often-overlooked economic gauge indicated on Friday that the U.S. economy is headed for a recession — or already in one — as the Federal Reserve tries to curb inflation with a series of rapid interest rate hikes.
The Conference Board’s Leading Economic Indicators index showed that conditions further deteriorated in October, with the gauge down 0.8% from the previous month. That follows a 0.5% decline in September.
"The U.S. LEI fell for an eighth consecutive month, suggesting the economy is possibly in a recession," said Ataman Ozyildirim, senior director of economic research at The Conference Board.
The slump reflects a worsening outlook among consumers, who are increasingly worried about steeper interest rates and stubbornly high inflation, as well as a prolonged slump in the housing market.
The Conference Board’s Leading Economic Indicators (LEI) has gone down suggesting recession is already happening.
