The Economic Cycle Research Institute, ECRI - a New York-based independent forecasting group, released their latest readings for their proprietary Weekly Leading Index (WLI) this morning. (More about ECRI)
For the week ending July 23, 2010
- WLI stood at 121.1, up from the prior weeks reading of 120.6
- WLI growth fell to minus 10.7 percent from minus 10.5 percent a week ago
Chart of WLI and WLI growth vs GDP Growth
Click to view full size chart
Since ECRI releases their WLI numbers for the prior week and the stock market, a component of WLI, is known in real time, you can often get a clue for next week's WLI from the weekly change in the stock market.
Chart of WLI vs S&P500
Notes:
- The WLI for the week ending 7/30/10 will be released on 8/6/10.
- Occasionally, the WLI level and growth rate can move in different directions, because the latter is derived from a four-week moving average.
Disclosure: I am long SPY (charts & quote) in my personal account and in the "Explore Portfolio" in "Kirk Lindstrom's Investment Letter."
Disclosure: Long SPY
Disclosure: Long SPY
