ECRI Growth Metric Drops Deeper Into Negative Territory
by: Doug Short September 9, 2011
The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) has now dropped further into negative territory after oscillating in a narrow range (1.5 to 2.1) from late June through the first week of August. Today’s update of the publicly available data available (through September 2) now puts the decline at 6.2, down from last week’s revised -4.4 (previously -4.3). The interim high of 8.0 was set in the week ending on April 15.
See the CNBC video clip featuring Lakshman Achuthan, co-founder and COO of ECRI, discussing the risk of a new recession. The clip originally aired on September 3.
For a close look at this movement of this index in recent months, here’s a snapshot of the data since 2000.