A leading economic indicator fell to its lowest level in 28 months, as signs point to a recession later this year.
The latest Conference Board Leading Economic Index (LEI) report, published on April 20, fell 1.2 percent in March, for the twelfth month in a row, higher than The Wall Street Journal’s estimate of a 0.7 percent drop.
The downturn marked its largest single-month decline since April 2020, when the pandemic and the resulting lockdowns slammed the American economy.
“The U.S. LEI fell to its lowest level since November of 2020, consistent with worsening economic conditions ahead,” said Justyna Zabinska-La Monica, senior manager, Business Cycle Indicators, at The Conference Board….