July drop in Leading Index adds to string of declines

Wells Fargo Research Team Wells Fargo

Summary

The Leading Economic Index declined for the fifth consecutive month in July and continues to point to a deterioration in economic activity. We don't yet think broad economic conditions are consistent with recession. But activity is slowing, and the trend decline in the index supports our view that the economy may slip into a recession by the beginning of next year.

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Wells Fargo Research Team

Wells Fargo

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