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Data: U.S. Leading Economic Indicator Continues to Deteriorate, U.S. Economy Officially in Recession
BlockBeats News, December 6th, KobeissiLetter released data indicating that the leading economic indicators in the United States continue to deteriorate. The ratio of leading economic indicators to coincident economic indicators has fallen to 0.85, the lowest level since 2008. This ratio has been declining for 4 consecutive years.
The Conference Board Leading Economic Index (LEI) tracks forward-looking data, including consumer expectations, manufacturing new orders, average weekly hours, and initial jobless claims, among others. Meanwhile, the Coincident Economic Index (CEI) provides a real-time measure of current economic conditions, such as nonfarm payroll employment. Historically, whenever this ratio has experienced such a significant decline, the U.S. economy has been in a recession.
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