Reported by Dow Jones Newswires:
1530 GMT [Dow Jones] Growth in a leading economic indicator improved a bit in the latest week. Growth in the ECRI weekly leading index for the Feb 13 week stood at -24.0%, up from -24.5% in the prior week.
"While the WLI rose for the first time in six weeks, it still remains near its cycle low, indicating that an economic recovery is not at hand," said ECRI director Lakshman Achuthan. Growth in the January index stood at -24.5%, from -27.2% in December.
This index has at least stopped plunging since December... then the Conf Board Index followed suit. Not a recovery yet, but it's a start.
ReplyDeleteWell, direction is still down, but the speed of plunge is somewhat slower ...
ReplyDeleteThes etwo posts at CNBC, quoting Paul Volcker and George Soros may be quite true, unfortunately
ReplyDeletesee Paul Volcker here http://www.cnbc.com//id/29304047
and George Soros here: http://www.cnbc.com/id/29308452/for/cnbc/
I watch the ECRI guy on CNN/CNBC and he seems to be saying that everyone has agendas -- obvious, but overlooked when we bank on what talking heads say. The ECRI point is to watch the Weekly Leading Index which is an objective read that doesn't include assumptions/ideology, etc.
ReplyDeleteI just made an update with charts for "better visualisation", see here: http://thefrugalplain.blogspot.com/2009/02/ecri-slight-improvement-in-pictures.html
ReplyDelete