Nowcasting the business cycle isn’t getting any easier. Despite a firehose of data and an expanding list of analytical techniques, benchmarks and related research at researchers’ disposal, debate persists about the state of the US economy. Yesterday’s release of the Leading Economic Index (LEI) from the Conference Board appears to settle the matter in favor of recession, but real-time analysis isn’t as clear-cut as this indicator suggests.
Daily Archives: April 21, 2023
Macro Briefing: 21 April 2023
* Pentagon prepares to evacuate US embassy staff in Sudan as civil war escalates
* Eurozone economic growth rebounds to 11-month high in April via survey data
* US home sales down 2.4% in March vs. and 22% lower vs. year-ago level
* Mega-cap stocks are leading the recent rally in the equities market
* Money market funds are offering relatively high yields, but there are risks
* US jobless claims edge higher, hint at softening jobs market
* Philly Fed Mfg Index falls to lowest level since pandemic was raging
* US Leading Economic Index fell deeper into the recession zone in March:
