The Conference Board Leading Economic Index (LEI) fell -0.4% in October and hit its lowest since March 2016.
This index has not seen an increase for 32 consecutive months, the longest streak on record.
The streak has even exceeded the previous records of 25 months in the 1974-1975 recession and 24 months during the 2008 Financial Crisis.
As a result, the gauge is now 17.6% below its peak, the 4th largest drawdown in history.
Historically, there are an average of 11 months between a peak and a recession.
Is the US economy set to enter a recession?
where in the cycle are we??? pic.twitter.com/v7C6HmTwUM
— CH (@Econimica) December 3, 2024