Usually, this level is associated with recession.

🇺🇸 *US SEPT. LEADING INDICATOR FALLS 0.7% M/M; EST. -0.4% (18th straight drop) – BBG
*On a YoY basis, the index fell 7.8%.
*Usually, this level is associated with #recession. pic.twitter.com/sCe9Q70mY5

— Christophe Barraud🛢🐳 (@C_Barraud) October 19, 2023

Recession comes when the curve uninverts.

That's where we are now. pic.twitter.com/XJG1Jir7JV

— Swordfishvegetable (@Swordfishv44183) October 19, 2023