An Update on the ECRI’s Recession Call
It’s not been a particularly good stretch for Lakshman Achuthan and the rest of the folks at the ECRI (Economic Cycles Research Institute) as their calls for a new U.S. recession have failed to pan out over the last year, something that they are repeatedly reminded of in the financial/economics blogosphere.
Last week, Doug Short penned Lakshman Achuthan’s Imaginary Recession Is Now In Its Seventh Month and today, at the bonddad blog, ECRI’s “tell-tale chart” now telling a different tale was offered up by New Deal Democrat that updated some data presented by Achuthan in early December.
It should be interesting to see what Achuthan has to say the next time he’s on the business news shows. Eventually, we’ll surely have another recession, but, it’s increasingly unlikely that the ECRI will find a way to make that jive with their prediction that, as I recall, was originally made almost a year-and-a-half ago.