Lakshman Achuthan, the head of the ECRI, which publishes a highly watched leading-indicators report, categorically denies that there will be a double dip.
Given the focus on the ECRI leading indicators this summer -- an index that prompted David Rosenberg and others to see a double dip -- this is pretty remarkable stuff.
He says the Fed is behind the curve, and not seeing the comeback in the economy that ECRI is already seeing in October.
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See Also:
- Here's Why It Was Ridiculous When David Rosenberg Used The ECRI To Predict A Double Dip
- ECRI Leading Indicators Improve Again, But Still At -6.9
- The ECRI Weekly Leading Indicator Improves, But Actually It Basically Looks Broken
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