(Tiper Stock Exchange) – As expected, the US super-index relating to US economic conditions fell in February 2023. As communicated by the Conference Board of the United States, the Leading Indicator (LEI) stands at 110 points, down by 0.3% compared to the previous month (when the drop was 0.3%) and compared to -0 .3% expected by analysts.
The component that pertains to the current situation increased by 0.1% to 109.8 points, while that on future expectations it grew by 0.2% to 118.5 points.
“The LEI for the US fell again in February, marking its own eleventh consecutive monthly decline – said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board – Negative or flat contributions from eight of the index’s ten constituents more than offset the improvement in stock prices and a better-than-expected reading for residential building permits”.
“While the LEI’s monthly rate of decline has eased in recent months, the leading economic index still points to the risk of a recession in the US economy – He added – The most recent financial turmoil in the US banking sector is not reflected in the LEI data but could have a negative impact on the outlook if it persists. Overall, the Conference Board expects that rising interest rates, coupled with declining consumer spending, will very likely push the US economy into a recession in the near term.”
(Photo: Photo by Nik Shuliahin on Unsplash )