Friday, November 21, 2014

Long-Term Charts Of The ECRI WLI & ECRI WLI, Gr. – November 21, 2014 Update

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.
The movement of the ECRI WLI and WLI, Gr. is particularly notable at this time, as ECRI publicly announced on September 30, 2011 that the U.S. was “tipping into recession,” and ECRI had reiterated (but no longer believes per the November 19, 2014 interview) the view that the U.S. economy was in a recession, seen most recently in these twelve publicly available sources :
Other past notable year 2012 reaffirmations of the September 30, 2011 recession call by ECRI were seen (in chronological order) on March 15 (“Why Our Recession Call Stands”) as well as various interviews and statements the week of May 6, including:
Also, subsequent to May 2012:
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Below are three long-term charts, from Doug Short’s blog post of November 21, 2014 titled “ECRI Recession Watch:  Weekly Update.”  These charts are on a weekly basis through the November 21 release, indicating data through November 14, 2014.
Here is the ECRI WLI (defined at ECRI’s glossary):
ECRI-WLI
This next chart depicts, on a long-term basis, the Year-over-Year change in the 4-week moving average of the WLI:
Dshort 11-21-14 - ECRI-WLI-YoY .8 percent
This last chart depicts, on a long-term basis, the WLI, Gr.:
ECRI WLI,Gr.
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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.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 2063.50 as this post is written

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