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.
Below are three long-term charts, from Doug Short’s ECRI update post of January 13, 2017 titled “ECRI Weekly Leading Index: ‘2016 Shapes 2017 Cyclical Outlook.’” These charts are on a weekly basis through the January 13, 2017 release, indicating data through January 6, 2017.
Here is the ECRI WLI (defined at ECRI’s glossary):
This next chart depicts, on a long-term basis, the Year-over-Year change in the 4-week moving average of the WLI:
This last chart depicts, on a long-term basis, the WLI, Gr.:
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.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 2273.58 as this post is written