Economic Index Drops, but Recession Isn’t Predicted by the Results

Your Order: Subscriber
Subscription Length: 1 year
Recurring: Yes
Content Access: 1 Post, 0 Posts, 0 Pages, 0 Power Brokers

“A sharp deterioration in new orders, persistently weak consumer expectations of business conditions, and softer building permits and hours worked in manufacturing drove the decline,” said a senior manager at The Conference Board.

Home Economy

By RISMedia Staff

August 19, 2024

Reading Time: 2 mins read

The Conference Board Leading Economic Index (LEI) for the U.S., which provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term, fell by 0.6% in July to 100.4, following a decline of 0.2% in June. Over the six-month period ending in July, the LEI fell by 2.1%, a smaller rate of decline than its -3.1% over the six-month period between July 2023 and January 2024.