FOREX TradingCharts.com

Financial News: U.S. Leading Economic Index Declines For Fifth Straight

U.S. Leading Economic Index Declines For Fifth Straight Month In July

08/18/2022 - 10:45:00 (RTTNews)

(RTTNews) - A report released by the Conference Board on Thursday showed a continued decrease by its reading on leading U.S. economic indicators in the month of July.

The Conference Board said its leading economic index fell by 0.4 percent in July following a revised 0.7 percent decrease in June.

Economists had expected the index to decline by 0.5 percent compared to the 0.8 percent drop originally reported for the previous month.

"The US LEI declined for a fifth consecutive month in July, suggesting recession risks are rising in the near term," said Ataman Ozyildirim, Senior Director, Economics, The Conference Board.

He added, "Consumer pessimism and equity market volatility as well as slowing labor markets, housing construction, and manufacturing new orders suggest that economic weakness will intensify and spread more broadly throughout the US economy."

Despite the decrease by the headline index, the report showed the coincident economic index rose by 0.3 percent in July after inching up by 0.1 percent in June.

The lagging economic index also increased by 0.4 percent in July following a 0.7 percent advance in the previous month.

"The Conference Board projects the US economy will not expand in the third quarter and could tip into a short but mild recession by the end of the year or early 2023," Ozyildirim said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Czech Economic Sentiment At 18-Month Low (30 min(s), 08 sec(s) ago)
(RTTNews) - The Czech economic confidence worsened further to reach its lowest level in one-and-a- ...Full Story»

Singapore Industrial Production Grows Unexpectedly (02 hr(s), 14 min(s), 08 sec(s) ago)
(RTTNews) - Singapore's industrial production increased unexpectedly in August, preliminary da ...Full Story»

European Economics Preview: Germany Ifo Business Confidence Data Due (04 hr(s), 03 min(s), 08 sec(s) ago)
(RTTNews) - Business confidence survey data from Germany is due on Monday, headlining a light day ...Full Story»

Japan Manufacturing Sector Ebbs In September - Jibun (49 min(s), 52 sec(s) ago)
(RTTNews) - The manufacturing sector in Japan continued to expand in September, albeit at a slower ...Full Story»

Japan Manufacturing PMI On Tap For Monday (09 min(s), 52 sec(s) ago)
(RTTNews) - Japan will on Monday see September results for its manufacturing, services and composi ...Full Story»

UK Private Sector Shrinks Most Since Early 2021 (27 min(s), 52 sec(s) ago)
(RTTNews) - The UK private sector shrank at the fastest pace since early 2021 on the negative impa ...Full Story»

Ireland Wholesale Price Inflation Eases In August (52 min(s), 52 sec(s) ago)
(RTTNews) - Ireland's wholesale price inflation eased in August after remaining stable in the ...Full Story»

UK Retail Sales Decline Sharply In September: CBI (10 min(s), 52 sec(s) ago)
(RTTNews) - UK retail sales declined sharply in September on the cost of living crisis, the Distri ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Czech Economic Sentiment At 18-Month Low

09/26/2022 - 04:20 AM (RTTNews)
(RTTNews) - The Czech economic confidence worsened further to reach its lowest level in one-and-a- ...Full Story>>

Singapore Industrial Production Grows Unexpectedly

09/26/2022 - 02:36 AM (RTTNews)
(RTTNews) - Singapore's industrial production increased unexpectedly in August, preliminary da ...Full Story>>

European Economics Preview: Germany Ifo Business Confidence Data Due

09/26/2022 - 00:47 AM (RTTNews)
(RTTNews) - Business confidence survey data from Germany is due on Monday, headlining a light day ...Full Story>>

Japan Manufacturing Sector Ebbs In September - Jibun

09/25/2022 - 20:40 PM (RTTNews)
(RTTNews) - The manufacturing sector in Japan continued to expand in September, albeit at a slower ...Full Story>>

Japan Manufacturing PMI On Tap For Monday

09/25/2022 - 18:00 PM (RTTNews)
(RTTNews) - Japan will on Monday see September results for its manufacturing, services and composi ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.