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Index recovering, but still recessionary

May 09 2008

The growth rate for the Economic Cycle Research Institute's weekly leading index (WLI) level of the U.S. economy for the week ended May 2 improved to 133.5 from the prior period's reading of 131.8. Higher index levels indicate strengthening of the economy.

"While WLI growth has recovered to a 14-week high, it remains deep in negative territory, suggesting that the outlook is still recessionary," said Lakshman Achuthan, managing director of the institute.

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