Dennis Norman
By: Dennis Norman
Today, The Conference Board released its Leading Economic Index(TM) (LEI) for the US for March. The LEI for the U.S. declined in March and has not risen in the past nine months. The Conference Board says building permits, stock prices and supplier deliveries made large negative contributions to the index this month.
The report does have some encouraging news though. It states that “all in all, the behavior of the composite economic indexes suggests that the economic recession that started in December 2007 will continue in the near term, but that the contraction in activity could become less severe in upcoming months.”
While we would all like to see the economy bounce back overnight, we know that is not realistic. Recently I have written about us maybe being near the bottom of the real estate market; that and the economic news discussed herein make me cautiously optimistic that we are on the downhill side of the recession.
The Conference Board, according to its website, “operates as a global independent membership organization working in the public interest.” I started looking to The Conference Board for information on the economy after I saw economists at The National Association of REALTORS(R) quoting data from the organization.
Related posts:
- Double-dip recession concern by consumers is putting a damper on the housing market
- Want A ‘Recession-Proof’ House? Buy a Celebrity Mansion
- ‘Shoddy’ mortage servicing practices prolonging housing market trouble
- Survey shows shift in consumer real estate decisions; more making move for the better
- Homebuyer tax credit has been primary cause of recent return of buyers to market according to study
Amen!
Our country was also hit hard by the Economic Recession. At least we are seeing some signs of economic recovery now. I hope that we could recover soon from this recession.
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