The Conference Board Leading Economic Index® (LEI) fell 0.3% in January marking the tenth consecutive decline in the index. This follows a 0.8% decline in December and a 0.9% decline in November. During the six-month period between July 2022 and January 2023, the LEI declined 3.6% versus a 2.4% decline in the prior six-month period. It is good to see the pace of the decline in the LEI is slowing. Five of the ten LEI indicators increased in January.

The Coincident Economic Index (CEI) increased 0.2% in January and is up 0.7% over the prior six-month period. That is about the same as the 0.6% increase during the prior six-month period. All four CEI indicators increased in January.

Source: The Conference Board