US Leading Economic Indicators Plunge Most ‘Since Lehman’
December 22, 2022
The Conference Board’s Leading Economic Indicators (LEI) suffered a significantly worse than expected drop in November, tumbling 1.0% MoM (vs -0.5% exp).
Despite this morning’s GDP beat, the LEI is showing no signs at all of ‘recovering’…
And on a year-over-year basis, the LEI is down 4.42% – its biggest YoY drop since 2008 (Lehman) outside of the COVID lockdown-enforced collapse…
Judging by this, the tightening policies of The Fed are having a ‘lagged’ effect.
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