The ratio of the US Leading Economic Index to the Coincident Economic Index has dropped to 0.85, the lowest level since 2008.

[The ratio of the US Leading Economic Index to the Coincident Economic Index has dropped to 0.85, the lowest level since 2008] According to data released by KobeissiLetter, the US Leading Economic Index continues to deteriorate, with the ratio of the Leading Economic Index to the Coincident Economic Index dropping to 0.85, the lowest level since 2008. This ratio has declined for four consecutive years. The Conference Board Leading Economic Index (LEI) tracks forward-looking data, including consumer expectations, new manufacturing orders, average weekly hours, and initial jobless claims. Meanwhile, the Coincident Economic Index (CEI) measures the current state of the economy in real time, such as non-farm payrolls. Historically, every time this ratio has experienced such a sharp decline, the US economy has already been in a recession.