The Conference Board’s Leading Economic Index (LEI) dropped by 0.6% in the past month, which was a larger decline than the expected 0.4%. This index has now decreased in 28 of the last 29 months, marking the longest losing streak since the 2008 Financial Crisis.
The LEI has fallen 15.3% from its highest point and is nearing levels seen during the recessions of the 1970s and 1980s. Historically, every time the index has experienced a similar decline, the U.S. economy has entered a recession.
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