ECRI Doubles Down on Recession Call; Points to "Contagion of Forward Leading Indicators"

Mon, Nov 7, 2011 - 8:52am

The Economic Cycle Research Institute is the "world's leading authority on business cycles" whose "state-of-the-art analytical framework is unmatched in its ability to forecast cycle turning points."¹ Furthermore, The Economist magazine has stated that they are perhaps "the only organization to give advance warning of each of the past three recessions; just as impressive, it has never issued a false alarm."

Two months ago, the ECRI made a very definitive and unwavering recession call going even so far to say that "there’s nothing that policy makers can do to head it off." Since then, the markets have rallied strongly on the heels of recent positive economic data, leading many in the mainstream financial press to accept that the U.S. has narrowly averted an impending recession and will begin to see growth. Not so, says Lakshman Achuthan, ECRI's chief economist and spokesman; citing under no uncertain terms that "nothing has changed our view": (Click here if video does not load)


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