An economic index that measures U.S. business cycles fell in August for the sixth straight month, indicating that a contraction in economic activity may be imminent.The Leading Economic Index compiled by private-research group The Conference Board declined 0.3% to 116.2 in August after a revised 0.5% drop in July, data released Thursday showed.Economists polled by The Wall Street Journal expected the index to decrease by 0.2%.August's data potentially signal a recession, said Ataman Ozyildirim, senior director of economic research at the Conference Board. "Economic activity will continue slowing more broadly throughout the U.S. economy and is likely to contract," he said.The Conference Board Leading Economic Index is a predictive variable that anticipates turning points in the business cycle by around seven months.
Well, that's not great news.
(Makes you wonder if there is something different about the post-pandemic economy, and if the major indicators are not quite acting as they should. I'm tempted to say "yes, maybe?" but I don't think that the pandemic suspended "the rules" of the economy.)