ECRI Weekly Leading Index: October 21 2011

The latest release of the Economic Cycle Research Institute’s (ECRI) Weekly Leading Index improved slightly since last week resulting in the all important annualized “growth” component showing a value of -10.00 and continuing firmly suggest recession call on the part of the ECRI’s economics staff .

The chart above shows the ECRI’s Weekly Leading Index growth component since 2001.

Notice that this index has turned notably negative which, along with an erosion in many other key macro-economic series, appears to be signaling recession is nigh.