Reply #64: Gauge of US economy falls, recession looms - ECRI -6 year low

[UpInArms]

http://www.reuters.com/article/bondsNews/idUSNAT00366320080201

NEW YORK, Feb 1 (Reuters) - A weekly gauge of future U.S. economic growth fell hard and its annualized growth rate plunged to a six-year low, a research group said on Friday, indicating the risk of recession is very high.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 131.1 in the week to Jan. 25 from 135.7 in the prior week, revised down from 135.8.

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The index's annualized growth rate plunged to minus 7.1 percent from minus 6.0 percent.

"WLI growth has dropped back to the six-year low seen in early January," Achuthan said.

"While the economy and employment did continue to grow through the end of 2007, the window of opportunity to avert a U.S. recession is about to slam shut."

...a bit more at link...