The latest reading from the ECRI’s leading indicator shows that the economic recovery remains well intact despite signs of a mid-year slow-down. For the latest week the ECRI’s Weekly Leading Indicator rose to 133 from last week’s reading of 131.3. This is the highest level since May 2008. The index’s annualized growth rate slowed, however, to a 37 week low of 12.5%. This was down marginally from last week’s reading of 12.6%.
Lakshman Achuthan, managing director at ECRI says the economic “revival will continue in the months ahead.”