WLI Rises Again
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index (WLI) rose to 126.4 in the week ended Dec. 3 from 125.3 the previous week.
That was the highest level since May 14, when it stood at 127.0.
The index's annualized growth rate rose to minus 1.5 percent from minus 2.4 percent a week earlier. That was the highest since May 28, when it was 0.1 percent.
"With both the WLI and its growth rate rising to their best readings since May, a 'double dip' back into recession remains off the table, notwithstanding self-serving recession warnings that feed fear itself," said Lakshman Achuthan, managing director of ECRI.