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US main financial index declined in September

October 20, 2022

The Convention Board Main Financial Index for america fell for the sixth month in September, reinforcing recession considerations.

The index fell by 0.4% in September to a degree of 115.9 (2016=100). The LEI is down 2.8% over the six months between March and September, displaying a reversal from its 1.4% development over the earlier six months.

“The US LEI fell once more in September, and its persistent downward trajectory in latest months suggests a recession is more and more probably earlier than year-end,” stated Ataman Ozyildirim, senior director, economics, at The Convention Board. “The six-month development fee of the LEI fell deeper into adverse territory in September, and weaknesses among the many main indicators had been widespread.”

“Amid excessive inflation, slowing labor markets, rising rates of interest, and tighter credit score circumstances, The Convention Board forecasts actual GDP development will likely be 1.5% 12 months over 12 months in 2022 earlier than slowing additional within the first half of subsequent 12 months,” Ozyildirim stated.

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