Tuesday, May 26, 2009

WLI Growth At 35-Week High

One more indicator that has been showing that the worst is over for the economy, for this round of the cycle, is the Weekly Leading Index of the Economic Cycle Research Institute.

The ECRI href="http://www.businesscycle.com/news/press/1438/">said its weekly index edged up to a 29-week high of 111.1 for the week ending May 15.

The index's annualized growth rate reached a 35-week high of minus 11.5 percent from last week's rate of minus 13.6 percent. It was the highest yearly growth reading since the week ended September 12, when it stood at minus 11.4 percent.

"With WLI growth rising steadily to a 35-week high, it is increasingly obvious that the 'green shoots' will blossom this summer," said Lakshman Achuthan, managing director at ECRI.

The WLI peaked at 140.2 in October 2007.

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