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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (48688)	3/15/2002 10:45:57 AM
From: Sully-	Read Replies (1) of 65232

ECRI weekly index rose to 121.9 last week NEW YORK, March 15 (Reuters) - A jump in the price of industrial commodities helped lift a weekly indicator of U.S. economic activity last week, confirming that the U.S. economy started to recover in January, the Economic Cycle Research Institute said on Friday. ECRI's Weekly Leading Index rose to 121.9 in the week ended March 8 from 121.6 in the prior week. ``The recovery story is very much intact,'' said Anirvan Banerji, ECRI research director. Banerji said the rebound was driven by a return to growth for the U.S. manufacturing sector, which recently snapped an 18-month slump. The index's growth rate -- which compares the four-week moving average with its behavior over the preceding year -- rose to 2.9 percent from 2.2 percent in the prior week. Earlier on Friday the Federal Reserve said industrial production rose 0.4 percent in February, the biggest bounce since June 2000, after an upwardly revised 0.2 percent rise in January. ``That assures us that the recovery began in January,'' Banerji said. The Weekly Leading Index is composed of a balance of seven major economic indicators. ECRI designs short- and long-term indexes aimed at predicting business cycles, recessions and recoveries in the world's leading economies. biz.yahoo.com

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