Not much of a change in the ECRI’s Weekly Leading Index (via Reuters):
A measure of future U.S.economic growth rose to a two-week high in the latest week, but held at a level that suggests the recovery will remain sluggish, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 120.9 in the week ending August 20 from a revised 120.7 the previous week.
That was the highest level since August 6, 2010, when it was 122.0. The previous week’s index was originally reported at 120.80. The index’s annualized growth rate rose to minus 9.9 from a revised minus 10.1 percent a week earlier. The growth rate was originally reported at minus 10.0 percent.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.