No Sign Of Upturn

No Sign Of Us Business Cycle Upturn

By Rodrigo Campos | 8 September 2008

NEW YORK, Sept 5 (Reuters)— A measure of future economic growth in the United States edged up slightly from a more than five-year low and its annualized growth rate inched up but remained near a 28-year low with no sign of a U.S. business cycle upturn in sight, a research group said on Friday. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 126.3 in the week to Aug. 29 from 125.4 in the previous period, revised from 125.5. Its annualized growth ticked up to negative 11.7 percent from minus 11.8 percent in the previous week, its lowest mark since June 1980. The index's rise was due to lower interest rates and higher stock prices and the uptick was partly offset by higher jobless claims, said Lakshman Achuthan, managing director at ECRI.

"With WLI growth near a 28-year low, a business cycle upturn remains out of sight," he said.

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