The Convention Board publish their Main Financial Index (LEI), the June outcome was out on Thursday, at -0.7%
- anticipated -0.6% prior -0.6%
- fifteenth fall in a row
- weakening shopper outlook and elevated unemployment claims cited as causes for the autumn
Reuters have the reviews:
- “Taken collectively, June’s information suggests financial exercise will proceed to decelerate within the months forward,” Justyna Zabinska-La Monica, senior supervisor of enterprise cycle indicators at The Convention Board, mentioned in a press release. The Convention Board reiterated its forecast that the U.S. financial system is prone to be in recession from the present third quarter to the primary quarter of 2024.
“Elevated costs, tighter financial coverage, harder-to-get credit score, and diminished authorities spending are poised to dampen financial progress additional,” Zabinska-La Monica mentioned.
—
Recession warning have been round for over a yr, effectively over a yr. There isn’t a signal of 1 but.
Extra from Reuters at that hyperlink above.
—
And I’ve given up questioning why the ‘main’ index for June was printed within the again half of July.
–
NASDAQ fell on Thursday, however its had a stellar run this yr.