September 25, 2009 / 2:33 PM / 10 years ago

U.S. economic recovery is 'far from fragile'-ECRI

 NEW YORK, Sept 25 (Reuters) - A weekly gauge of future U.S.
economic growth climbed higher in the latest week, while its
yearly growth rate reached a new all-time high, reaffirming
projections of a brisk, uninterrupted recovery.
 The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
rose to a 60-week high of 127.8 in the week to Sept. 18 from an
downwardly revised 126.1 the previous week, which was
originally reported as 126.2.
 It was the highest WLI reading since July 25, 2008, when it
also stood at 127.8.
 The index's yearly growth rate rose to a fresh record high
of 24.3 percent from last week's high of 22.9 percent.
 Last week, ECRI Managing Director Lakshman Achuthan told
Reuters that the group expects an "unstoppable" recovery with
"no relevant roadblocks." Fears over mounting unemployment,
debt-laden consumers, and dips in recovery are typical of
recessionary times, he said.
 "With WLI growth climbing to a fresh record high, the
economic recovery is far from fragile," Achuthan said on
Friday.
 The index rose in the latest week because of stronger
housing activity, ECRI said.
 (Reporting by Camille Drummond; Editing by Padraic Cassidy)


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