US Leading Economic Index Surpasses Its Previous Peak Reached in January 2020

Staffing Industry Analysts (05/20/21)

The Conference Board Leading Economic Index for the US recovered from Covid in April with a month-over-month increase of 1.6% to a reading of 113.3.

“With April’s large monthly gain to start the second quarter, the US [Leading Economic Index] has now recovered fully from its Covid-19 contraction — surpassing the index’s previous peak, reached at the very onset of the global pandemic in January 2020,” said Ataman Ozyildirim, senior director of economic research at The Conference Board.

“While employment and production have not recovered to their pre-pandemic levels yet, the US [Leading Economic Index] suggests the economy’s upward trend should continue and growth may even accelerate in the near term,” Ozyildirim said. “The Conference Board now forecasts real GDP could grow around 8% to 9% (annualized) in the second quarter, with year-over-year economic growth reaching 6.4% for 2021.”

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