Is recovery near ?
thestreet.com
The level of the WLI has actually climbed a little in the past few weeks, but that is not
enough to predict an economic recovery because the rise in the WLI needs to be
pronounced, pervasive and persistent. Thus far, the rise is pervasive, not very pronounced,
and at five weeks, hardly persistent.
Under the circumstances, there is still a danger that the rise in stock prices since
September may turn out to be a false dawn, like the rally last spring. Basically, it is still
premature to predict a recovery.
businesscycle.com
ECRI weekly index rises for second straight week
NEW YORK, Nov 30 (Reuters) - A weekly index of U.S. economic activity rose for the second straight week to its highest level in two months, but is still too low to signal a recovery, the Economic Cycle Research Institute said on Friday.
ECRI's Weekly Leading Index climbed to 117.5 in the week ended Nov. 23, from a downwardly revised 116.9 in the previous week.
A rise in mortgage applications to a four-month high helped lift the index, said Anirvan Banerji, ECRI research director.
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