Long-Term Charts Of The ECRI WLI & ECRI WLI, Gr. – January 11, 2013 Update

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, 2011 that the U.S. was “tipping into recession,” and ECRI has reiterated the view that the U.S. economy is currently in a recession, seen most recently in these two media sources of December 7, 2012:

“Reviewing the indicators used to officially decide U.S. recession dates, it looks like the recession began around July 2012.”

Other past notable 2012 reaffirmations of the September 30, 2011 recession call by ECRI were seen (in chronological order)  on March 15 (“Why Our Recession Call Stands”) as well as various interviews and statements the week of May 6, including:

Also, subsequent to May 2012:

Below are three long-term charts, from Doug Short’s blog post of January 11 titled “ECRI’s Imaginary Recession:  Now in its Seventh Month.”  These charts are on a weekly basis through the January 11 release, indicating data through January 4, 2013.

Here is the ECRI WLI (defined at ECRI’s glossary):

Dshort 1-11-13 ECRI-WLI 128.3

This next chart depicts, on a long-term basis, the Year-over-Year change in the 4-week moving average of the WLI:

Dshort 1-11-13 ECRI-WLI-YoY 5.5 percent

This last chart depicts, on a long-term basis, the WLI, Gr.:

Dshort 1-11-13 ECRI-WLI-growth-since-1965 5.1

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I post various economic 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.

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The Special Note summarizes my overall thoughts about our economic situation

SPX at 1469.31 as this post is written