ECRI: WLI Growth At 27-Week High

(Reuters) - A weekly measure of U.S. future economic growth remained unchanged, while its annualized growth rate rose to levels last seen in early October 2008, suggesting economic recovery for the near future, a research group
said Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index was flat at 107.2 for the week ending April 17 .

The index's annualized growth rate -- continuing its six-month upswing -- rose to negative 18.6 percent from the prior week's rate of negative 19.7 percent.

It was the highest yearly growth reading since Oct. 10, 2008, when the rate was minus 17.0 percent, according to ECRI data.

"With WLI growth rising to a 27-week high, U.S. economic growth, which is now at a record low, will soon begin to improve," said Lakshman Achuthan, managing director at ECRI.

While the yearly economic growth forecast improved, the index level was unchanged as lower interest rates and higher commodity prices were neutralized by higher jobless claims and weaker housing activity, Achuthan said.

My emphasis. It is spring!
Why is David Rosenberg so cautious? Ritholtz also still freezes in a cold housing? And Calculated Risk stuck in fourth quadrant?

Small order set-backs should not destroy the green picture ...