BREAKING: The ratio of US leading to coincident economic indicators is now down to 0.84, matching the 2008 Financial Crisis low. This comes as the Leading Economic Index (LEI) fell -0.6% MoM in March, posting its 7th monthly decline out of the last 8. The Conference Board Leading Economic Index (LEI) tracks forward-looking data, including consumer expectations, manufacturing orders, weekly hours, and initial jobless claims. At the same time, the Coincident Economic Index (CEI) measures current economic conditions in real time, such as nonfarm payrolls or personal income, excluding government social security or unemployment payments. This ratio is now on track for its 5th consecutive annual decline, the longest streak on record. In the past, such depressed levels have never occurred outside of a recession. The US economy and the stock market are moving in opposite directions.

BREAKING: The ratio of US leading to coincident economic indicators is now down to 0.84, matching the 2008 Financial Crisis low.

This comes as the Leading Economic Index (LEI) fell -0.6% MoM in March, posting its 7th monthly decline out of the last 8.

The Conference Board Leading Economic Index (LEI) tracks forward-looking data, including consumer expectations, manufacturing orders, weekly hours, and initial jobless claims.

At the same time, the Coincident Economic Index (CEI) measures current economic conditions in real time, such as nonfarm payrolls or personal income, excluding government social security or unemployment payments.

This ratio is now on track for its 5th consecutive annual decline, the longest streak on record.

In the past, such depressed levels have never occurred outside of a recession.

The US economy and the stock market are moving in opposite directions.