ECRI Growth Metric Drops Deeper Into Negative Territory
by: Doug Short September 5, 2011
The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) dropped deeper 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, data through August 26, now puts the decline at -4.3, down from last week’s revised -2.1. 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 Chief Operations Officer of ECRI, which aired on Wednesday, August 31st, just before the ADP jobs report.