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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2215)	8/9/2002 10:52:02 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Weekly Index Up, Recovery on Track: ECRI NEW YORK (Reuters) - The U.S. economic recovery may be anemic, but the country will not slip back into recession this year, according to a weekly research report on Friday. The Economic Cycle Research Institute said an improvement in most components of its weekly indicator of U.S. economic activity nudged the index higher last week. The stock market recovered from recent lows, mortgage applications rose and initial unemployment claims fell, helping lift ECRI's weekly leading index to 121.7 in the week ended Aug 2 from 120.0 in the previous week. "It very much underscores the idea that we do not see a double-dip this year," said Anirvan Banerji, ECRI research director. A double-dip recession occurs when the economy begins to take off but then falls back into contraction. The index's growth rate, which smooths out weekly fluctuations, dipped to 2.6 percent from 3.3 percent in the preceding week. 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.