The ECRI says their leading indicator for economic activity jumped to a 18 month high. This implies continued economic strength and an on schedule recovery. Their weekly leading indicator jumped to 131.5 from 130.7. The annualized growth, however, did slip to 23.6%.
“With the WLI climbing to a one-and-a-half-year high, the U.S. economy is firmly set to strengthen in the coming months,” said Lakshman Achuthan, Managing Director at ECRI.
In addition, the ECRI also sees inflation concerns increasing. Their Future Inflation Gauge jumped to 98.2 from 95.6 last week.
“Thus, underlying inflation pressures are building steadily, pointing to higher inflation in the months ahead,” said Lakshman Achuthan.