WLI Growth at 6 Week Low

ECRI  said its Weekly Leading Index fell to 120.6 in the week ending August 27 from 120.9 the previous week.


That is the lowest reading since July 16, when it stood at 120.4. The index's annualized growth rate fell to minus 10.1 percent from minus 9.9 percent a week earlier. That is the lowest since August 6, when it was minus 10.2.
 
A reading below 10 percent is a clear recession indicator.
 
The data out of ECRI is the best macro data following the Rick Davis data out of Consumer Metrics Institute, both tend to be way ahead of U.S. government agency data.

Serious Downside Action in ECRI Index; The Double Dip Recession is Hovering

The ECRIIndex is now at December 2007 levels, the time when the last recession officially started. ERCRI's most recent index data dropped from an annualized revised -5.8% (previously -5.7%) to -6.9%.

The  "double dip" signs are everywhere, noticed by everyone, except MSM.

ECRI Index Down Again

Growth in the ECRI weekly leading index has fallen  further into negative territory.


The growth rate for the week of June 11 is now at -5.7%, down from -3.7% in the previous week,.Last week's number was the first negative reading in almost a year.

The ECRI continues to be one of my favorite indicators for tracking the economy. It tends to be much more timely and accurate than government data. This sudden drop in the index suggests imminent trouble over a broad swath of the economy.