Leading Index Declines for 20th Straight Month, Raising Recession Risk in 2024
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Leading economic index declined 0.5% in November, falling for the 20th straight month and signaling a likely recession ahead
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Index has not fallen so many months in a row since the Great Recession from 2007-2009
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9 of 10 indicators in the index were flat or negative in November
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Economy has defied recession predictions so far due to strong labor market and consumer spending
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Forecast predicts a short, mild recession in first half of 2024, though some economists think a downturn could still be avoided