As I stated in my July 12, 2010 post (“ECRI WLI Growth History“):
For a variety of reasons, I am not as enamored with ECRI’s WLI and WLI Growth measures as many are.
However, I do think the measures are important and deserve close monitoring and scrutiny.
The movement of the ECRI WLI and WLI, Gr. is particularly notable at this time, as ECRI publicly announced on September 30 that the U.S. was “tipping into recession.” I featured excerpts from their statement in the October 3 post (“ECRI Recession Statement Of September 30 – Notable Excerpts“)
Below is a long-term chart, on a weekly basis through February 10, of the ECRI WLI (defined at ECRI’s glossary) from Doug Short’s blog post of February 10 titled “ECRI’s Puzzling Recession Call: The Growth Index Contraction Eases Yet Again” :
(click on charts to enlarge images)
This next chart depicts, on a long-term basis, the WLI, Gr. through February 10:
I post various indicators and indices because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not necessarily agree with what they depict or imply.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1342.64 as this post is written