Economic gauge hits 45-week low
September 12 2007
The Economic Cycle Research Institute's forward-looking gauge of the U.S. economy for the week ended Sept. 7 had a growth rate of 0.1%, a 45-week low. However, the index level was 140.6, up from 140.5 in the prior week. The growth rate and level can move in different directions because the growth rate is derived from a four-week moving average.
"Although the index did rise a bit, growth prospects continue to fade but this has yet become a recessionary downturn," said Lakshman Achuthan, managing director of the institute.