Posted BY: Ethel C. Fenig
Early yesterday the respected Conference Board, which describes itself as a nonpartisan, nonprofit “member-driven think tank that delivers trusted insights for what’s ahead,” released its December 2022 report stating:
LEI for the U.S. Declined Sharply Again in December
The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 1.0 percent in December 2022 to 110.5 (2016=100), following a decline of 1.1 percent in November. The LEI is now down 4.2 percent over the six-month period between June and December 2022 — a much steeper rate of decline than its 1.9 percent contraction over the previous six-month period (December 2021–June 2022).
“The US LEI fell sharply again in December — continuing to signal recession for the US economy in the near term,” said Ataman Ozyildirim, Senior Director, Economics, at The Conference Board.