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<p>The Conference Board’s LEI is a monthly index based on 10 components, both financial and non-financial, that anticipates turning points in the business cycle. The latest data for December came in at 110.5, a decrease of 1%. This represents its 10<sup>th</sup> consecutive decline and was worse than consensus forecast. Here’s the latest from the CB’s press release:</p>
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<!-- wp:uagb/blockquote {"block_id":"2f39f6b6","classMigrate":true,"descriptionText":"\u003cem\u003e\u0022The US LEI fell sharply again in December—continuing to signal recession for the US economy in the near term,” said\u0026nbsp;\u003cstrong\u003eAtaman Ozyildirim, Senior Director, Economics, at The Conference Board.\u003c/strong\u003e\u0026nbsp;“There was widespread weakness among leading indicators in December, indicating deteriorating conditions for labor markets, manufacturing, housing construction, and financial markets in the months ahead. Meanwhile, the coincident economic index (CEI) has not weakened in the same fashion as the LEI because labor market related indicators (employment and personal income) remain robust. Nonetheless, industrial production— also a component of the CEI—fell for the third straight month. Overall economic activity is likely to turn negative in the coming quarters before picking up again in the final quarter of 2023.”\u003c/em\u003e","descColor":"","authorColor":"","paddingBtnTop":10,"paddingBtnBottom":10,"paddingBtnLeft":10,"paddingBtnRight":10} -->
<div class="wp-block-uagb-blockquote uagb-block-2f39f6b6 uagb-blockquote__skin-border uagb-blockquote__with-tweet uagb-blockquote__tweet-style-classic uagb-blockquote__tweet-icon_text uagb-blockquote__stack-img-none"><blockquote class="uagb-blockquote"><div class="uagb-blockquote__content"><em>"The US LEI fell sharply again in December—continuing to signal recession for the US economy in the near term,” said&nbsp;<strong>Ataman Ozyildirim, Senior Director, Economics, at The Conference Board.</strong>&nbsp;“There was widespread weakness among leading indicators in December, indicating deteriorating conditions for labor markets, manufacturing, housing construction, and financial markets in the months ahead. Meanwhile, the coincident economic index (CEI) has not weakened in the same fashion as the LEI because labor market related indicators (employment and personal income) remain robust. Nonetheless, industrial production— also a component of the CEI—fell for the third straight month. Overall economic activity is likely to turn negative in the coming quarters before picking up again in the final quarter of 2023.”</em></div><footer><div class="uagb-blockquote__author-wrap uagb-blockquote__author-at-left"><cite class="uagb-blockquote__author">Author Name</cite></div><a href="/" class="uagb-blockquote__tweet-button" target="_blank" rel="noopener noreferrer"><svg width="20" height="20" viewBox="0 0 512 512"><path d="M459.37 151.716c.325 4.548.325 9.097.325 13.645 0 138.72-105.583 298.558-298.558 298.558-59.452 0-114.68-17.219-161.137-47.106 8.447.974 16.568 1.299 25.34 1.299 49.055 0 94.213-16.568 130.274-44.832-46.132-.975-84.792-31.188-98.112-72.772 6.498.974 12.995 1.624 19.818 1.624 9.421 0 18.843-1.3 27.614-3.573-48.081-9.747-84.143-51.98-84.143-102.985v-1.299c13.969 7.797 30.214 12.67 47.431 13.319-28.264-18.843-46.781-51.005-46.781-87.391 0-19.492 5.197-37.36 14.294-52.954 51.655 63.675 129.3 105.258 216.365 109.807-1.624-7.797-2.599-15.918-2.599-24.04 0-57.828 46.782-104.934 104.934-104.934 30.213 0 57.502 12.67 76.67 33.137 23.715-4.548 46.456-13.32 66.599-25.34-7.798 24.366-24.366 44.833-46.132 57.827 21.117-2.273 41.584-8.122 60.426-16.243-14.292 20.791-32.161 39.308-52.628 54.253z"></path></svg>Tweet</a></footer></blockquote></div>
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