FOREX TradingCharts.com

Financial News: U.S. Leading Economic Index Extends Decline To Six

U.S. Leading Economic Index Extends Decline To Six Straight Months In August

09/22/2022 - 10:36:00 (RTTNews)

(RTTNews) - Potentially signaling a recession, the Conference Board released a report on Thursday showing its index of leading U.S. economic indicators declined for the sixth consecutive month in August.

The Conference Board said its leading economic index fell by 0.3 percent in August after sliding by a revised 0.5 percent in July.

Economists had expected the leading economic index to come in unchanged compared to the 0.4 percent drop originally reported for the previous month.

With the continued decrease, the LEI slumped by 2.7 percent over the six-month period between February and August, a reversal from the 1.7 percent jump over the previous six months.

"Among the index's components, only initial unemployment claims and the yield spread contributed positively over the last six months-and the contribution of the yield spread has narrowed recently," said Ataman Ozyildirim, Senior Director, Economics, at The Conference Board.

He added, "Furthermore, labor market strength is expected to continue moderating in the months ahead. Indeed, the average workweek in manufacturing contracted in four of the last six months-a notable sign, as firms reduce hours before reducing their workforce."

Ozyildirim predicted activity would continue slowing more broadly throughout the U.S. economy and likely contract, citing the Federal Reserve's rapid tightening of monetary policy as a major driver of the slowdown.

While the headline index continued to decline, the report showed the coincident economic index edged up by 0.1 percent in August after climbing by 0.5 percent in July.

The Conference Board said the lagging economic index also increased by 0.7 percent in August after rising by 0.4 percent in July.

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


Ireland Jobless Rate Remains Stable In September (06 hr(s), 04 min(s), 41 sec(s) ago)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story»

Brazil Industrial Production Falls As Expected (06 hr(s), 21 min(s), 41 sec(s) ago)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story»

U.S. Services Index Indicates Slightly Slower Growth In September (06 hr(s), 27 min(s), 41 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story»

U.S. Trade Deficit Narrows To Smallest In Over A Year In August (06 hr(s), 41 min(s), 41 sec(s) ago)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story»

Philippines Inflation Highest In 4 Years (06 hr(s), 43 min(s), 41 sec(s) ago)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story»

U.S. Private Sector Job Growth Slightly Exceeds Estimates In September (06 hr(s), 47 min(s), 41 sec(s) ago)
(RTTNews) - Private sector employment in the U.S. increased by slightly more than expected in the ...Full Story»

Brazil Services Growth At 16-Month Low (06 hr(s), 51 min(s), 41 sec(s) ago)
(RTTNews) - Brazil's service sector activity expanded at the weakest pace in the current 16-mo ...Full Story»

UK Car Registrations Rise For Second Month: SMMT (07 hr(s), 29 min(s), 41 sec(s) ago)
(RTTNews) - UK car registrations increased for the second straight month in September, data from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Ireland Jobless Rate Remains Stable In September

10/05/2022 - 10:58 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story>>

Brazil Industrial Production Falls As Expected

10/05/2022 - 10:41 AM (RTTNews)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story>>

U.S. Services Index Indicates Slightly Slower Growth In September

10/05/2022 - 10:35 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story>>

U.S. Trade Deficit Narrows To Smallest In Over A Year In August

10/05/2022 - 10:21 AM (RTTNews)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story>>

Philippines Inflation Highest In 4 Years

10/05/2022 - 10:19 AM (RTTNews)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...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.