(Finance) – The US superindex of economic conditions Americans in January. As communicated by the Conference Board of the United States, the Leading indicators (LEI) stands at 110.3 points, down 0.3% compared to the previous month (when the drop was 0.8%) and compared to the -0.3% expected by analysts.
The component that pertains to the current situation increased by 0.2% to 109.5 points, while that on future expectations it grew by 0.2% to 118.5 points.
“The US LEI remained on a downward trajectory, but its rate of decline eased slightly in January,” said Ataman Ozyildirim, Senior Director, Economics, at The Conference Board. “Among leading indicators, deteriorating manufacturing new orders, consumer expectations on trade conditions and credit conditions more than offset the strengths in labor markets and stock prices, pushing the index to discount. The contribution of the yield spread component of the LEI has also turned negative over the past couple of months, which is often a sign of a coming recession. While the LEI continues to report a short-term recession, labor market indicators, including employment and personal income, remain robust so far. However, the Conference Board still expects theinflation high, rising interest rates and shrinking consumer spending will plunge the US economy into a recession in 2023.”
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