Don't Miss Out On Great Gains! - Best Investment Newsletter

Don't miss out! Subscribe Now

Search For More

Friday, October 31, 2008

ECRI WLI Growth Rate Falls to Lowest in Six Decade History

Today the Economic Cycle Research Institute, or ECRI an independent forecasting group based in New York, said its Weekly Leading Index (WLI) fell to its lowest level in its six decade history. The WLI and its growth rate are designed to predict future turning points in the business cycle (recessions and recoveries.)
Today ECRI said its WLI fell to 112.9 for the period ending October 24, 2008. Last week WLI was 114.0.

The WLI growth rate fell to -21.9%, down from -19.3% last week.

Commenting on the data, Lakshman Achuthan, managing director at ECRI said
"With WLI growth plummeting to the lowest reading registered in its six-decade history, the outlook for the economy has darkened dramatically."
Date and graph courtesy of Economic Cycle Research Institute

Is the Recession two years old now?

I explore that idea in my upcoming article "Is the Recession In Its Second Year Now?"

More ECRI Articles:

Kirk Lindstrom's Investment Letter Performance

Followers (New)