ECRI’s Lakshman Achuthan Is Still Forecasting A Recession7 November, 2011, 22:00. Posted by Zarathustra
Tags: Economy, ECRI, Lakshman Achuthan, Recession, United States
Truth be told, economic data from the United States have not fallen off the cliff, and people are now upping their forecasts as data came out better than expected.
But Lakshman Achuthan of Economic Cycle Research Institute is still forecasting a recession as he sees “contagion among forward looking indicators”. Even after a dramatic rebound of the stock market and as data coming better than expected, he is not impressed.
So why Wall Street economists are getting excited? Lakshman Achuthan said economists in the Street are only “now-casting”, and that is not how one can forecast recession, and he said that on average “it is about six months inside of the recession that people realise there’s a recession”.