The Conference Board said Thursday that leading US economic indicators fell last month. Tracking a range of indicators that capture job, manufacturing, financial and housing market activity, the index is designed to detect when a recession is coming.
All but two of the index’s ten components have been in negative territory over the past six months.
Ataman Ozyildirim, senior director of economics at The Conference Board, said the six-month decline in the index “potentially signals a recession.”
“Economic activity is likely to continue to slow and contract more broadly across the U.S. economy. That’s it,” said Ozildirim. A recession in the coming quarters.
“The dynamics of the recession are gaining momentum,” Oxford Economics U.S. economist Galleen Chadda said in a report Thursday. I have.”
But many economists say the job market is still too strong for the US economy to slip into recession. During recessions, companies resort to widespread job cuts, but economic reports show that’s not happening right now.
New figures released on Thursday showed that initial jobless claims rose only marginally last week and remain near the lowest level since May.