Aug 03, 2022 08:30 AM
The Conference Board Leading Economic Index, which assesses the 3-6-month economic outlook, dropped 0.8% in June, the fourth consecutive monthly decline, Fannie Mae reported July 22. Existing home sales were down 5.4% in June, the lowest point in two years, and housing starts dropped 2% to the lowest level since last October. Consumer pessimism, labor conditions and stock prices drove the decline.