Lakshman Achuthan of the ECRI isn’t backing down from his recession call made several months ago. He was on Bloomberg this afternoon to discuss the economy with Tom Keene. Achuthan maintains that the recession won’t be acknowledged until well after it has started and that he might not be vindicated for a year.
Despite improvement in some indicators of late, he still thinks the recession is coming in 2012. Achuthan says the forward looking data is getting weaker and remains persistently negative.
His most interesting comment, from my perspective, is that the economy will not muddle through. He says we will either accelerate or decelerate and his indicators clearly point to deceleration. You can see the entire interview here.