It was probably inevitable, but it’s striking nonetheless. The once-reliable US Leading Economic Index (LEI) has been signaling a US recession for more than a year but the economy has continued to expand. It’s a teachable moment in recession nowcasting and forecasting, but not surprising. The main takeaway, again: every recession indicator fails, eventually.
Daily Archives: February 22, 2024
Macro Briefing: 22 February 2024
* Fed officials express concern of slowing inflation progress in minutes
* Eurozone downturn eases as price pressures intensify in February: PMI survey
* China’s efforts to develop AI resources relies on US technology
* Stocks in Japan close at record high, rising above 1989 peak
* Nvidia strong earnings report boost outlook for artificial intelligence
* US 10-year Treasury yield ticks up to highest level since Dec. 1:
