ECRI: NO DOUBLE DIP, BUT ECONOMY TO SLOW FURTHER
Courtesy of The Pragmatic Capitalist
I’ve had one heck of a difficult time seeing how the ECRI’s Weekly Leading Index is in any way useful (as it tends to have near 1:1 correlation with equities), however, I have to give credit where credit is due. Lakshman Achuthan and the team at ECRI not only predicted the recession, but also predicted the recovery. In their most controversial call earlier this year they called for a slowdown, but not a double dip. That call is looking pretty good based on recent data. Achuthan sees no double dip going forward, but believes the economy is going to slow further.
Source: Fox Business
