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ECRI GROWTH GAUGE CONTINUES TO DECLINE

The ECRI’s weekly leading indicator’s annualized growth gauge continued to decline in the last week while the index actually climbed a bit.  The Weekly Leading Index rose to 122.9 from 122.4 in the past week.  The annualized growth rate fell to -6.9% from -5.8%.    LakshmanAchuthan, managing director of ECRI says a slowdown is inevitable:

“After falling for six weeks, the uptick in the level of the Weekly Leading Index suggests some tentative stabilization, but the continuing decline in its growth rate to a 56-week low underscores the inevitability of the slowdown.”

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