The recovery remains robust according to the latest data from ECRI. Their weekly reading on economic growth rose for the 8th consecutive week to 131.5 from last week’s 130.9. Most importantly, the annualized growth rate appears to be stabilizing at a relatively high level which implies that the year over year economic growth remains quite strong. The annualized growth rate climbed slightly to 13.3% from last week’s reading of 13.1%. According to Lakshman Achuthan, the managing director of ECRI, a double dip remains out of the question:
“With the WLI close to an all-time high, a double dip remains out of the question.”
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.