The Conference Board predicts US economic expansion of 3.5% for 2022

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WASHINGTON — The Conference Board’s leading economic index for the United States rose 0.8% in December to 120.8 (2016=100), following an increase of 0.7% in November and 0.7 % in October.

“The US LEI ended 2021 on an upward trajectory, suggesting the economy will continue to expand through spring,” said Ataman Ozyildirim, senior director of economic research at The Conference Board. “For the first quarter, headwinds from the omicron variant, labor shortages and inflationary pressures – as well as expected interest rate hikes from the Federal Reserve – could dampen economic growth.

“The Conference Board expects GDP growth for the first quarter of 2022 to slow to a relatively healthy 2.2% (annualized). Yet for 2022 as a whole, we expect the U.S. economy to grow 3.5%, well above pre-pandemic trend growth. »

The 10 components of The Conference Board’s Leading Economic Index for the United States include:

  • Average weekly hours, manufacturing
  • Average Weekly Initial Unemployment Insurance Claims
  • New orders from manufacturers, consumer goods and materials
  • ISM new orders index
  • New orders from manufacturers, non-defence capital goods excluding aircraft orders
  • Building permit, new private housing
  • Share price, 500 common shares
  • Main credit index
  • Interest rate spread, 10-year treasury bills minus fed funds
  • Average consumer expectations regarding economic conditions

Jean Marie Layton is Upholstery Editor at Furniture Today. Passionate about design and furniture, she has worked as a writer/editor in industry and nonprofits, academic administration and furniture retail. She pursued an MA in Design History at Parsons/Cooper-Hewitt and holds a BA in History from Mount Holyoke College and an MA in Liberal Arts from Stanford University. Contact Jean Marie with your story ideas, tips and more at [email protected].

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