Down for 10 Straight Months, LEI Signals Recession in the “Near Term”

Source: Economics Group of Wells Fargo Bank, N.A.Summary The tenth consecutive decline in the Leading Economic Index (LEI) was worse than expected in December and included downward revisions to November’s report. Labor components lifted the coincidence and lagging indices to scant gains…for now. Recession in the “Near Term” The Leading Economic Index (LEI) declined for the tenth straight month, dropping 1.0% in December, and November was revised lower (chart). Most of the components contributed negatively to the index with just core capital goods orders and consumer goods orders positive, and they were barely positive. Core capital goods orders added 0.02 points to the headline and the point boost from consumer goods orders was a miniscule 0.01. READ FULL ARTICLE>>