The Economic Cycle Research Institute said its Weekly Leading Index ticked up to a 17-week high of 109.3 for the week ending May 1 from 107.7 in the previous week.
"The level of the WLI is fast approaching a six-month high, making it increasingly likely that the U.S. recession will end this summer," said Lakshman Achuthan, managing director at ECRI.
The index level rose due to higher stock prices and stronger housing activity, partly offset by higher interest rates, Achuthan said.
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