The economy is flashing a recession warning that has only been wrong once in the last 120 years.
The ECRI's Leading Economic Index has started to decline in the past year, top economist Lakshman Achuthan said.
AdvertisementThe US economy is flashing a classic recession warning that has only shown a false positive once in the last century, according to top economist Lakshman Achuthan.
AdvertisementHiring strength seems to lie in non-discretionary areas of the market — which typically occurs before a recession, Achuthan said, as consumers prioritize needs over wants.
Job growth in education and health rose around 4% last year, though job growth in every other sector trended near 0%, ECRI data shows.
Persons:
Lakshman Achuthan, —, Achuthan, David Rosenberg
Organizations:
Service, Cycle Research, Rosenberg Research, Atlanta Fed