The Economic Cycle Research Institute’s weekly leading index jumped last week to its highest level since September 9, the consultancy reports. Nonetheless, the self-proclaimed “leading authority on business cycles” continues to forecast a recession for the U.S., as ECRI’s co-founder, Lakshman Achuthan, explained yesterday on Bloomberg TV.
Daily Archives: December 9, 2011
Can We Trust The Moderate Growth Forecasts?
Another day, another economic forecast. The 35 economists polled for the latest Livingston Survey via the Philadelphia Fed project that real GDP for the U.S. will grow at an annualized 2.5% rate for the second half of 2011. That’s down from June’s 3.2% second-half 2011 forecast. Down, but still not out.