Gauge of yearly US economic growth at fresh 28-yr low-ECRI

Source: Reuters

NEW YORK, Aug 29 (Reuters) - A measure of future U.S. economic growth fell to a more than five-year low and its annualized growth rate hit a fresh 28-year low, sign that a business cycle recovery may not happen in the near future, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 125.5 in the week to Aug. 22 from 125.8 in the previous period, revised from 125.9.

Its annualized growth fell to negative 11.8 percent to match its lowest mark since the week to June 13, 1980. The previous week this gauge was at minus 11.5 percent, revised from minus 11.4 percent.

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"With growth in the forward-looking WLI falling to a fresh 28-year low, prospects for a business cycle recovery remain bleak."

Read more: http://www.reuters.com/article/bondsNews/idUSNAT00432620080829

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This is the Republicans value in a nutshell - they have hollowed out our economy in ways that were unimaginable and they were ruthless with their bloody hachets.

:nuke: