Report: Economic recession coming for the U.S.

A new economic analysis of the U.S. economy projects a recession around the corner.

An international nonprofit, The Conference Board, has released its Leading Economic Indicators report, which projects into the next year for the U.S. economy. That analysis, among other things, projects high inflation, high interest rates and declining consumer spending.

“The US LEI trajectory remained negative, and its six- and twelve-month growth rates also held in negative territory in October,” Justyna Monica, senior manager, Business Cycle Indicators, at The Conference Board, said in a statement. “Among the leading indicators, deteriorating consumers’ expectations for business conditions, lower ISM® Index of New Orders, falling equities, and tighter credit conditions drove the index’s most recent decline.”

Increased federal debt spending has helped fuel the elevated inflation of recent years. Meanwhile, that inflation as well as dysfunction in Washington, D.C. around funding the government has led to an international credit downgrade of the U.S. government. In August, Fitch Ratings, one of the top three international credit rating groups in the world, downgraded the U.S. from AAA to AA+, raising concerns about federal spending, which has also helped fuel the higher interest rates.

The Conference Board report also projects a recession.

- Advertisement -

“After a pause in September, the LEI resumed signaling recession in the near term,” Monica said in a statement, adding that it will be a “very short” recession. “We forecast that real GDP will expand by just 0.8 percent in 2024.”

spot_img
spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Arizona Dems blast One Big Beautiful Bill, GOP defends it

(The Center Square) — The One Big Beautiful Bill...

EPA signs off on Louisiana’s air quality plan

(The Center Square) − The U.S. Environmental Protection Agency...

Ascension, West Feliciana lead in student mastery on statewide tests

(The Center Square) — Following the release of Louisiana’s...

Ohio Equal Rights Amendment moves ahead

(The Center Square) – A push to enshrine nondiscriminatory...

California refuses to sign pact over alleged Title IX violation

The California Department of Education refuses to recognize an...

At Least 80 Dead as More Rain Looms in Texas

It was meant to be a summer of sisterhood,...

Barrett seeking Green’s congressional seat

(The Center Square) – Tennessee state Rep. Jody Barrett...

Elon’s America Party could be on North Carolina ballots in 2026 midterms

(The Center Square) – After an Independence Day question...

More like this
Related

Arizona Dems blast One Big Beautiful Bill, GOP defends it

(The Center Square) — The One Big Beautiful Bill...

EPA signs off on Louisiana’s air quality plan

(The Center Square) − The U.S. Environmental Protection Agency...

Ascension, West Feliciana lead in student mastery on statewide tests

(The Center Square) — Following the release of Louisiana’s...

Ohio Equal Rights Amendment moves ahead

(The Center Square) – A push to enshrine nondiscriminatory...