The WLI growth rate fell to -25.9%, down from -24.6% last week.
Commenting on the data, Lakshman Achuthan, managing director at ECRI said "With WLI growth continuing to plumb new lows, not only is no economic recovery on the horizon, but the economy is falling off a cliff at its fastest pace in at least six decades."
Date and graph courtesy of Economic Cycle Research Institute
Occasionally the WLI level and growth rate can move in different directions, because the latter is derived from a four-week moving average.
More ECRI Articles:
- October 30, 2008: ECRI Warned Us; We Are In A Recession Now
- March 28, 2008: ECRI Calls it "A Recession of Choice"
- January 25, 2008: "ECRI Says There Is A Window of Opportunity for the US Economy"
- January 05, 2008: "ECRI Says Fed Has Room To Cut Rates Despite Fears of Inflation"
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