The Conference Board announced on Friday its Leading Economic Index
(LEI) for the U.S. fell 0.3 percent m-o-m in February to 110.0 (2016=100), the
same pace as in January.
Economists had forecast a decrease of 0.3 percent m-o-m.
Commenting on the latest reading, Justyna Zabinska-La Monica, Senior
Manager, Business Cycle Indicators, at The Conference Board, noted that the
most recent financial turmoil in the U.S. banking sector is not reflected in
the LEI but could have a negative impact on the outlook if it persists. “Overall,
The Conference Board forecasts rising interest rates paired with declining
consumer spending will most likely push the U.S. economy into recession in the
near term,” she added.
The report also revealed the Conference Board Coincident Economic Index
(CEI) for the U.S. edged up 0.1 percent m-o-m in February to 109.8, after a 0.2
percent m-o-m gain in the previous month. In addition, its Lagging Economic
Index (LAG) for the U.S. advanced 0.2 percent m-o-m to 118.5, following a 0.1
percent m-o-m uptick in January.