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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (27979)	1/18/2002 12:43:12 PM
From: Challo Jeregy	Respond to of 52237

Friday January 18, 10:30 am Eastern Time Despite dip, ECRI weekly index points to Q1 rebound NEW YORK, Jan 18 (Reuters) - A dip in stock prices and mortgage applications pushed a weekly indicator of U.S. economic activity lower in the latest week, but the index still points to a first quarter recovery, the Economic Cycle Research Institute said on Friday. ECRI's Weekly Leading Index slipped to 120.3 in the week ended Jan from 120.6 in the previous week. Despite the modest decline, a persistent upward trend in the index still suggests the economy is on the verge of recovery, ECRI said. ``The rising trend has persisted for three months,'' said Anirvan Banerji, ECRI research director. ``We will probably make our recovery call soon.'' The U.S. economy, which entered a recession in March of last year, will likely see positive growth in the first quarter of 2002, he said. Banerji dismissed the possibility -- recently broached by one influential analyst -- of a so-called ``double-dip'' recession, where the economy would post one quarter of growth and then return to a period of contraction. The index's growth rate, which compares the four-week moving average with its behavior over the preceding year, marched higher in the latest week, to 0.9 percent from 0.3 percent one week earlier. 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