May 27, 2011 weekly update
The Weekly Leading Index (WLI) of the Economic Cycle Research Institute (ECRI) declined to 5.0 from last week’s 5.3. This is the fifth consecutive week of decline from the 11-month interim high of 7.8 for the week ending on April 15.
The Published Record
The published ECRI WLI growth metric has had a respectable record for forecasting recessions and rebounds therefrom. More…