ECRI‘s Achuthan Says U.S. Is Entering ‘A New Recession‘. That is what is starting to come to the realization that the numbers don’t lie (well, at least they usually don’t). Taking all of the recent manufacturing and GDP reports into consideration, it does not really matter what you call it…. A duck is a duck..
Sept. 30 (Bloomberg) — U.S. “tipping into a new recession,” said ECRI‘s Lakshman Achuthan on Bloomberg Radio. * “We don‘t make these calls lightly. When we make them, it‘s because there‘s an overwhelming objective message coming out of our forward-looking indicators. What is going on with the leading indicators is wildfire; it‘s not reversible.” * NOTE: Last Friday, weekly smoothed ECRI index dropped to 1- yr low.
In addition, the weekly numbers were just released… Not looking good.