US Conference Board's leading economic index (LEI) fell 0.6% in July, signaling slower US real GDP growth.
The US Conference Board's leading economic index (LEI) fell 0.6% in July, a larger decline than expected, driven by weak consumer expectations, new orders, and reduced hours in manufacturing. The LEI indicates a slowdown in US real GDP growth, with a forecasted 0.6% annualized expansion in Q3 2024 and 1% in Q4. Despite the declining data, the LEI six-month annual growth rate no longer signals a recession ahead.
August 19, 2024
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