India, May 19 -- The Conference Board released a report on Monday showing its reading on leading U.S. economic indicators slumped by more than expected in the month of April.
The report said the leading economic index tumbled by 1.0 percent in April after sliding by a downwardly revised 0.8 percent in March.
Economists had expected the leading economic index to decrease by 0.8 percent compared to the 0.7 percent drop originally reported for the previous month.
"The U.S. LEI registered its largest monthly decline since March 2023, when many feared the US was headed into recession, which did not ultimately materialize," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
googletag.cmd.push(...