“Conference Board announces 13th consecutive monthly decline in leading indicators, predicts mild recession by mid-2023”

(CercleFinance.com) – The index of leading indicators continued to decline in April for the 13th consecutive month, the Conference Board announced today.

The index lost 0.6% in April, after falling 1.2% in March. Between October 22 and April 23, the index fell by 4.4%, a decline which therefore tended to accelerate, since its decline was limited to 3.8% over the previous six-month period (April-October 22).

For Justyna Zabinska-La Monica, senior director in charge of economic cycle indicators at the Conference Board, this decline reflects a deterioration in the economic outlook.

“It is important to note that the LEI continues to warn of an economic downturn this year. The Conference Board predicts a contraction in economic activity from the second quarter leading to a mild recession by mid-2023,’ she said.