The ECRI remains as bullish as ever. After reaching a new 17 month high just last week the ECRI reported their weekly leading indicator declined just slightly. Despite this decline, the ECRI remains very optimistic about the econoic recovery. Reuters reports:
A weekly measure of future U.S. economic growth edged slightly lower in the latest week, along with its yearly growth rate, but remained high enough to signal economic improvement ahead, a research group said on Thursday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index inched down to 130.4 in the week ended Dec. 18 from 130.7 the previous week.
The index’s annualized growth rate edged down to 24.4 percent from 24.7 percent a week ago.
“With WLI growth remaining robust, the economy will keep improving in the months ahead,” said Lakshman Achuthan, Managing Director at ECRI.