ECRI: Not Quite A Recession Yet, But No Rebound Either30 August, 2011, 1:23. Posted by Zarathustra
Tags: Economy, ECRI, Lakshman Achuthan, United States
Lakshman Achuthan, the economist at Economic Cycle Research Institute (ECRI), has been rather accurately in the past for calling the major turning points of the US economy. Earlier he called a summer global manufacturing slowdown as well as a sustained slowdown of the US economy, which both turn out to be true and on-going right now. So what’s next?
He thinks that the weakness will persist, as he has seen no upturn with respect of the indicators he is looking at, but they have not quite gone to a point where he can definitely call a recession. He also refused to assign any probability of recession as some of the other economists have done recently, as he thinks that only gives people a false sense of precision.