Market

U.S. leading economic index falls again in January

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The numbers: The U.S. leading economic index fell 0.3 % in January, after a 0.8% drop in the prior month, the Conference Board said Friday

The decline was in line with forecasts of economists polled by The Wall Street Journal.

The LEI is a gauge of 10 indicators designed to show whether the economy is getting better or worse. The index was down 0.8% in December.

The index is now down 3.6% over the last six months, a steeper decline than the prior six-month period.

Key details: A measure of current economic conditions rose 0.2% in January. The so-called ‘lagging’ index —a look of sorts in the rearview mirror — also rose 0.2%.

Big picture: Fears of a recession have eased after the Labor Department estimated that the economy added 517,000 jobs in January. But Ataman Ozyildirim, senior director, economics, at the Conference Board, said the firm “still expects high inflation, rising interest rates and contracting consumer spending to tip the U.S. economy into recession in 2023.”

Market reaction: Stocks
DJIA,
-0.10%

SPX,
-0.71%

opened lower on Friday as the market digested prospects of higher interest rates. The yield on the 10-year Treasury note
TMUBMUSD30Y,
3.903%

rose to 3.88%, the highest level so far this year.

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Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

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