MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Killswitch who wrote (12473)	5/31/2002 1:20:36 PM
From: Killswitch	Read Replies (1) of 19219

businesscycle.com reports WLI staying quite stable "NEW YORK, May 31 (Reuters) - A rise in a weekly indicator of U.S. economic activity confirmed that the U.S. economic recovery is well under way, but its level suggests a weak rebound, a report on Friday showed. The Economic Cycle Research Institute's Weekly Leading Index rose to 122.0 in the week ended May 24 from 121.8 in the prior week. "The recovery will remain on track through the rest of this year," said Lakshman Achutan, ECRI managing director. "There's no indication of any renewed downturn." But he noted that the index is only slowly edging its way higher, indicating an economic turnaround that lacks gusto. "It confirms that this is a subpar recovery," Achutan said. The index's growth rate -- which compares the four-week moving average with its behavior over the preceding year -- inched lower, to 4.5 percent from 4.7 percent. 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."

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