The U.S. Conference Board’s Index of Leading Economic Indicators fell for a 15th consecutive month, signaling a coming recession. This is longest streak of falling indicators since the Great Recession of 2007-2009.<\/p>\n\n\n\n
\nJuly 20 (Reuters) – An index designed to track turns in U.S. business cycles fell for the 15th straight month in June, dragged down by a weakening consumer outlook and increased unemployment claims, marking the longest streak of decreases since the lead-up to the 2007-2009 recession.<\/p>\n\n\n\n
The Conference Board on Thursday said its Leading Economic Index, a measure that anticipates future economic activity, declined by 0.7% in June to 106.1 following a revised decrease of 0.6% in May. The decline was slightly greater than the median expectation among economists in a Reuters poll for a 0.6% decrease.<\/p>\n\n\n\n
\u201cTaken together, June\u2019s data suggests economic activity will continue to decelerate in the months ahead,\u201d Justyna Zabinska-La Monica, senior manager of business cycle indicators at The Conference Board, said in a statement. The Conference Board reiterated its forecast that the U.S. economy is likely to be in recession from the current third quarter to the first quarter of 2024.<\/p>\n\n\n\n