We’ve been wondering when this would happen: When would Lakshman Achuthan — head of ECRI — defend the firm’s call (first made on September 30, 2011) that the US economy was about to go into recession.
Anyway, we have our answer.
from the ECRI website:
We found that from Doug Short, who also notes:
The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) came in at -3.7 in today’s public release of the data through February 10th. This is the fifth consecutive week of improvement (less negative) data for the Growth Index and the highest level (i.e., least negative) since August 26th of last year. The underlying WLI decreased fractionally from an adjusted 123.6 to 123.5 (see the third chart below).