The Conference Board reported on Friday that its Leading Economic Index (LEI)
for the U.S. declined 0.3 percent m-o-m in January 2023 to 110.3 (2016=100),
following an unrevised 0.8 m-o-m fall in December 2022.
Economists had predicted a drop of 0.3 percent m-o-m.
Commenting on the latest reading, Ataman Ozyildirim, Senior Director,
Economics, at the Conference Board at The Conference Board, noted a slight
moderation in the U.S. LEI’s downward trajectory in January but added that the
indicator continues to signal a recession in the near term. “The Conference Board
still expects high inflation, rising interest rates, and contracting consumer
spending to tip the US economy into recession in 2023,” he said.
The report also revealed the Conference Board Coincident Economic Index
(CEI) for the U.S. rose 0.2 percent m-o-m in January to 109.5, after flat m-o-m
performance in the previous month. In addition, its Lagging Economic Index (LAG)
for the U.S. also increased 0.2 percent m-o-m to 118.5, following a 0.6 percent
m-o-m gain in December.