Which suggests the U. s. the economy he is now in recession territory”, the Conference Board released a report Thursday showing a continued fall of its reading on leading economic indicators.
The Conference Board said that its leading economic index dropped 4.4% in April, after falling by a revised 7.4% in March.
Economists had expected the index to decline by 5.9% compared to 6.7% slump as originally reported for the previous month.
“In march, the U.S. LEI continued on a downward trajectory, after posting the biggest drop in its 60-year history in March,” said Ataman Ozyildirim, Executive Director of Economic Research at The Conference Board.
He added, “The erosion has been widespread, except for the courses of the stock market and the interest rate spread, which partially reflect the speed and response of the Federal Reserve system, to offset the consequences of the pandemic, and support of financial products.
The report said, ” the coincidence economic index cratered from 8.9% in April, after a decline of 1.5% in the previous month.
On the other hand, the Conference Board said the lagging economic index surged 4.1% in April after rising 1.7% in March.
The terms and conditions of the company may, in fact, for some sectors and industries over the next few months,” said Bart van Ark, Chief Economist of the Conference Board.
He added, “But the breadth and depth of the decline in the LEI suggests that the imminence of a re-opening of certain sectors does not imply a rapid rebound of the economy in the broad sense.”
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