News Net Nebraska

Complete News World

US, August leading indicator confirms economic weakness

US, August leading indicator confirms economic weakness

The US Super Index continued its decline in August It sums up US economic conditions. As reported by the United States Conference Board, the Lead Indicator (LEI) is in quota 105.4 points down 0.4% Compared to the previous month (when the decline was 0.3%) and below the 0.5% expected by analysts.

This is another decline in the leading indicator In the last six months Until August 2023 he is a A decline of 3.8% Compared to the previous six months.

Relevant component Current situation It rose 0.2% to 110.6 points expectations the future It was up 0.2% to 118.5 points.

“With the decline in August, the US SuperIndex has been on a downward trend for nearly a year and a half. The economy is going through a challenging period It is a Potential recession In the next year,” said Justyna Zabinska-La Monica, senior manager of the conference board.

“The index was negatively impacted in August by weak new orders, deteriorating consumer expectations regarding trade, higher interest rates and tighter credit conditions. All of these factors suggest that economic activity may slow and experience a brief but mild contraction,” the Conference Board predicted. Real GDP will increase by 2.2% in 2023and then declines to 0.8% in 2024”.

See also  "Stories of 9/11", eleven protagonists tell the story of America resuming after September 11