The Conference Board’s Leading Economic Index released Thursday showed an extended declining streak, but an analyst suggested he wasn’t concerned.
The Leading Economic Indicator(LEI) is a composite index consisting of different variables that are intended to predict turning points in the economy, this predictive index is highly correlated. “Despite the (LEI) index declining for 14 months on a trot, there is little evidence the U.S. is headed toward recession,” said Yardeni Research. The firm noted that the index of Coincident Economic Indicators (CEI), which points to current conditions, rose to a record high.
