The Leading Economic Index (LEI) from the Conference Board edged higher by 0.2% in February, yet the gain was not enough to offset half of the prior month’s -0.5% loss. Despite the LEI’s modest increase, the Conference Board decreased their economic growth projection, stating that: “The global economic impact of the war on supply chains and soaring energy, food, and metals prices—coupled with rising interest rates, existing labor shortages, and high inflation—all pose headwinds to US economic growth.” With the LEI slowing down in recent months, the U.S. economy is in a more vulnerable position, especially as inflation takes its toll on both the psychology and the pocketbooks of consumers.
