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To: yard_man who wrote (26699)	1/4/2002 10:38:52 AM
From: Sully-	Read Replies (2) \| Respond to of 209892

ECRI weekly index plunges in Dec 28 week NEW YORK, Jan 4 (Reuters) - A weekly index of U.S. economic activity fell sharply to a three-month low in the latest week, dampening hopes for an economic recovery early next year, the Economic Cycle Research Institute said on Friday. ECRI's Weekly Leading Index slipped to 114.9 in the week ended Dec. 28 from 120.2 in the previous week. A huge drop in mortgage applications was mostly to blame for the slide in the index, ECRI said. ``Mortgage applications fell something like 40 percent from their record highs,'' said Anirvan Banerji, ECRI research director. Banerji said this week's drop could be an anomaly and that he would take a wait-and-see approach before calling the timing of an economic rebound. The index's growth rate, which compares the four-week moving average with its behavior over the preceding year, also fell, to -1.4 percent from -0.2 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. Historical Data --------------- Week ending Level Growth rate Dec 28 114.9 -1.4 Dec 21 120.2 -0.2 Dec 14 118.7 -1.5 Dec 7 119.1 -2.5 Nov 30 118.0 -4.1 Nov 23 117.1 -5.1 Nov 16 116.7 -6.5 Nov 9 115.5 -7.8 Nov 2 115.9 -8.2 Oct 26 114.1 -8.8 Oct 19 113.9 -8.7 Oct 12 115.2 -7.9 Oct 05 114.8 -7.1 Sep 28 115.3 -5.8 Sep 21 116.7 -4.3 Sep 14 117.7 -3.4 Sep 07 118.8 -2.9 Aug 31 119.8 -2.6 Aug 24 119.3 -2.3 Aug 17 119.4 -1.7 Aug 10 120.0 -1.1 Aug 03 120.8 -1.3 Jul 27 121.2 -2.0 Jul 20 121.3 -2.5 Jul 13 119.8 -2.9 Jul 06 119.4 -2.4 Jun 29 120.4 -1.7 Jun 22 120.7 -1.4 Jun 15 121.2 -1.5 Jun 08 121.6 -2.0 Jun 01 121.3 -2.4 May 25 120.8 -2.8 May 18 120.2 -3.6 May 11 120.8 -4.4 May 04 120.6 -5.6 Apr 27 119.2 -6.9 Apr 20 118.5 -7.5 Apr 13 118.3 -7.9 Apr 06 118.0 -8.0 Mar 30 118.2 -7.7 Mar 23 118.2 -7.2 Mar 16 118.8 -6.8 Mar 09 119.4 -6.4 Mar 02 120.2 -6.0 Feb 23 119.6 -5.6 Feb 16 120.4 -5.0 Feb 09 120.8 -4.2 Feb 02 121.7 -3.8 Jan 26 121.6 -4.8 Jan 19 122.8 -6.8 Jan 12 122.3 -8.6 Jan 05 119.8 -9.5