The US will tip into a recession in mid-2023, according to an indicator that's declined for 12 consecutive months

• The Conference Board's Leading Economic Index declined further in March, suggesting a recession will hit in mid-2023. 
• The LEI is down 4.5% over the last six months, a steeper decline than the 3.5% rate in the preceding six months.
• The key indicator has declined for 12 consecutive months.

The Conference Board's Leading Economic Index for the US dropped for the 12th consecutive month in March, signaling that a recession is set to hit in the middle of 2023. 

The indicator — which broadly tracks business cycles using 10 inputs from across manufacturing, unemployment, building permits, and interest rate spreads, among other factors — slipped 1.2% in March to 108.4, following a decline of 0.5% in February.