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Economic index off from high, still shows strength

November 06, 2009
Staffing Industry Analysts North American Daily News

The Economic Cycle Research Institute's weekly leading index measuring the U.S. economy continued to show strong growth, according to its most recent reading released today. "While the [weekly leading index] growth has backed off from a record high, its continued strength promises a stronger U.S. economic recovery than most anticipate," said Lakshman Achuthan, managing director of the institute.

The growth rate for the weekly leading index was 26.3% in the week ended Oct. 30, down from 26.9% in the prior period. The index level rose to 128.8 from 128.3 in the prior period.

The growth rate is derived from a four-week moving average of the level and compared against the previous year's average. As a result, the growth rate and level can move in opposite directions.