Leading Economic Index Declines for 19th Straight Month, But Recession Not Imminent
-
The leading economic index declined 0.8% in October and fell for the 19th month in a row.
-
The U.S. economy doesn't appear any closer to a recession than when the losing streak began.
-
Economists had forecast a 0.7% drop in the leading index, a gauge of 10 indicators.
-
The leading index is designed to show whether the economy is getting better or worse.
-
The indicators include jobless claims, factory orders, and stock prices.