June 11 (Reuters) - A measure of future U.S. economic growth fell to a 44-week low in the latest week, indicating that the economy is about to slow, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 123.2 for the week ended June 4, down from 124.0 in the prior week. That was the lowest level since the week of July 31, 2009, when it stood at 122.4. Meanwhile, the index's annualized growth rate fell to -3.5 percent after a rise of 0.3 percent a week earlier.
(Reporting by John Parry; Editing by Chizu Nomiyama)
ECRI:
ECRI's funding comes primarily from a professional membership who have full access to our forecasting services. This is somewhat unique among research institutes where it is common to find a couple of major benefactors providing the bulk of funding. ECRI's independence and objectivity is reinforced by having such a diverse member base.
Two key words; independence and objectivity that Geithner, Bernanke and CNBC do not have in their vocabulary.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment