No comment, take it dry ... my emphasis!
Reuters, February 06, 2009
A measure of U.S. future economic growth and its annualized rate fell in the previous week, indicating the economy will not recover in the near future, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slipped to 106.1 for the week ending Jan. 30, from 107.3 in the previous week.
The index's annualized growth rate also declined, to negative 24.7 percent from negative 24.0 percent.
"With the WLI falling for the fourth straight week, almost to its cycle low, an economic recovery is not in sight," said Melinda Hubman, research associate at ECRI.
The weekly index fell due to higher jobless claims and weaker housing, with the slide partly offset by higher stock prices, Hubman said.
Hehhh, and OECD leading indicators also "fall to lowest levels since 1970s".
Reason for party!?
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