The leading economic index fell 0.4% in July and declined for the 16th month in a row, but other measures of the economy suggest a recession is far off.
The leading index is a gauge of 10 indicators designed to show whether the economy is getting better or worse. Seven of the 10 components fell in July.
Key details: A measure of current conditions, known as the coincident index, actually rose 0.4% in July and may reflect a more accurate view of the economy. The board predicts a short and shallow recession beginning near the end of 2023 and extending through early next year.
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