Economy

Recession Drums Beat Louder as Key Economic Indicator Falls for 18th Straight Month

The U.S. economy continues to show signs of weakening as a key economic gauge has fallen for the 18th consecutive month amid high inflation and Fed rate hikes.
Recession Drums Beat Louder as Key Economic Indicator Falls for 18th Straight Month
Traders work on the floor of the New York Stock Exchange, on Sept. 28, 2023. Brendan McDermid/Reuters
Tom Ozimek
Tom Ozimek
Reporter
|Updated:
0:00

The recessionary drums are beating louder as a key U.S. economic gauge from The Conference Board dropped for the 18th consecutive month as the Federal Reserve’s rate hikes in response to soaring inflation are taking their toll on the economy.

The Leading Economic Index (LEI), which is a forward-looking gauge made up of 10 individual indicators, fell by 0.7 percent in August, The Conference Board said on Oct. 19.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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