The Conference Board announced on Tuesday that it was abandoning long-standing prediction of an imminent recession in the United States. Despite the downturn in its Leading Economic Index (LEI), which suggests a stagnation in economic output in the upcoming months, the organisation noted positive signals indicating economic resilience Reuters cited Justyna Zabinska-La Monica, senior manager of business cycle indicators at the Conference Board, who said, "While the declining LEI continues to signal headwinds to economic activity, for the first time in the past two years, six out of its 10 components were positive contributors over the past six-month period.

Conference board retracts US recession prediction; economy set to grow despite index decline

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Conference board retracts US recession prediction; economy set to grow despite index decline