The Economic Cycle Research Institute ‘s leading economic indicator continues to drop, energizing calls for a double dip.
We are just 2.3 points away from that critical -10 threshold on the ECRI WLI which at least historically, has guaranteed a recession. Just the freefall itself is vertigo inducing, and the number’s release at 10:30 Eastern is what pushed the market even further lower as bullish indicator after indicator collapse.
Note though that the ECRI itself has openly disagreed to past recession conclusions made about its declining indicator, as made above. Apparently it’s not so simple. See their objection here >