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ECRI: PREMATURE TO CALL FOR DOUBLE DIP

Lakshman Achuthan, managing director of the ECRI says it’s premature to be calling for a double dip recession.  The ECRI’s leading indicator fell to 122.2 from 122.6 this week while the index’s annualized growth rate rose to -8.7% from -9.3%.  The much reported growth rate has improved in recent weeks.  All in all Achuthan believes it’s too early to be too bearish:

“After a brief plunge in the late spring, the WLI has been fairly stable throughout the summer and into September, suggesting that it is still premature to predict a new recession.”

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