ECRI GROWTH CONTINUES TO DECLINE

"The negative trend in the ECRI’s weekly leading index continued this week. The annual growth rate for their leading index declined to -5.7% for the week ending June 11th. This was down from -3.7% last week. This is just the second negative reading since the ECRI began calling for an economic recovery early in 2009. Lakshman Achuthan, ECRI’s managing director is not yet concerned about the decline in the leading index:
“Despite the WLI’s rapid drop over the last six weeks, its downturn has not been sustained enough to signal an imminent recession.”