US “Leading” Economic Indicators Crash By Most In Over 60 Years
The US Conference Board’s leading economic index crashed 6.7% in March – the biggest monthly drop since the series began in 1959…
Source: Bloomberg
Under the hood:
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The biggest positive contributor to the leading index was interest rate spread at 0.03
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The biggest negative contributor was jobless claims at -5.53
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LEI coincident index fell 0.9% in March after rising 0.3% in prior month
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LEI lagging index rose 1.2% in March after rising 0.3% in Feb.
The index (which fell 0.2% in February after rising 0.4% in January) fell to its lowest since July 2017…
And on a year-over-year basis, LEI crashed 6.6% – the biggest annual drop since September 2009…
We are sure this will all be dismissed as “transitory”… despite its apparent “leading” nature.
Tyler Durden
Fri, 04/17/2020 – 10:35
via ZeroHedge News https://ift.tt/3eAw6hx Tyler Durden