The  index that  tracks US business cycles showed  a weakening  consumer outlook and increased unemployment claims ,  marking the longest streak of decreases since the lead-up to the 2007-2009 recession. A measure that anticipates future economic activity showed a revised decrease of 0.6% in May and a decreased 0.7% in june . Eventhough expectation among economists is for 0.6% in Reuter’s bill , the decline was slightly greater. Senior manager of business cycle indicators at the conference board Justyn Zabinska –La Monica said “Taken together, June’s data suggests economic activity will continue to decelerate in the months ahead.” The focus for US economy is likely to be in recession from the current third quarter to the first quarter of 2024. “Elevated prices, tighter monetary policy, harder-to-get credit, and reduced government spending are poised to dampen economic growth further,” Zabinska-La Monica said. The contraction in the LEI as per the conference board is fallen to 4.2% over the last 6 months, compared to 3.8% between June and December 2022.


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