PPLC - U.S. Likely Entered A New Recession In March Ending The Record-Long Expansion
By Robert Hughes
AIER's Business Cycle Conditions Leading Indicators index held steady at 54 in March. March is the 11th consecutive month within the 46-54 range for the Leading Indicators Index. The Roughly Coincident Indicators index fell 17 points to 58, while the Lagging Indicators index gained 8 points to reach 50 (see chart). Despite the continued modestly positive reading for the Leading Indicators index, the U.S. economy likely contracted in March, ending the longest U.S. economic expansion on record.
The March decline for the U.S. economy was a result of the outbreak of COVID-19