The Conference Board's index of leading indicators declined 0.8% in last months, after a unexpectedly rose 0.1%(revised) in September, but followed a very steep decline of 0.9 percent in August and a 0.7 percent drop in July.
Over the six months through October, the leading index declined 2.4%, considerably faster than the 1.2% decrease over the previous six months.
"Taken together, the persistent and extensive deterioration of the composite indexes continues to suggest that the economy is unlikely to improve soon, and economic activity may contract further near term," the Conference Board said in a statement.
In October, three out of the 10 indicators rose. The largest positive contributors to the index were real money supply, the interest rate spread and manufacturers' new orders for consumer goods and materials. The most significant negative contributors were stock prices, building permits and the index of consumer expectations.
Therefore, US is in a recession, & therefore market will decline more in coming days.
Over the six months through October, the leading index declined 2.4%, considerably faster than the 1.2% decrease over the previous six months.
"Taken together, the persistent and extensive deterioration of the composite indexes continues to suggest that the economy is unlikely to improve soon, and economic activity may contract further near term," the Conference Board said in a statement.
In October, three out of the 10 indicators rose. The largest positive contributors to the index were real money supply, the interest rate spread and manufacturers' new orders for consumer goods and materials. The most significant negative contributors were stock prices, building permits and the index of consumer expectations.
Therefore, US is in a recession, & therefore market will decline more in coming days.
