×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: conference board leading economic indicator | recession

US Leading Indicator Falls, Signaling Recession

US Leading Indicator Falls, Signaling Recession
(Dreamstime)

Thursday, 22 September 2022 10:52 AM EDT

A gauge of future U.S. economic activity declined for a sixth straight month in August, potentially signaling a recession amid large interest rate increases from the Federal Reserve.

The Conference Board said on Thursday its Leading Economic Index fell 0.3% last month after decreasing 0.5% in July. Economists polled by Reuters had forecast the index dipping 0.1%. The index dropped 2.7% between February and August, a reversal from its 1.7% increase over the prior six months.

"Economic activity will continue slowing more broadly throughout the U.S. economy and is likely to contract," said Ataman Ozyildirim, senior economics director at the Conference Board in Washington. "A major driver of this slowdown has been the Fed’s rapid tightening of monetary policy to counter inflationary pressures. The Conference Board projects a recession in the coming quarters."

The U.S. central bank delivered a 75-basis-point rate hike on Wednesday, its third straight increase of that magnitude. It signaled more large increases to come this year.  

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
A gauge of future U.S. economic activity declined for a sixth straight month in August, potentially signaling a recession amid large interest rate increases from the Federal Reserve.
conference board leading economic indicator, recession
160
2022-52-22
Thursday, 22 September 2022 10:52 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved