FOR IMMEDIATE RELEASE
Contact:
Maria E. Simos
65 Newmarket Road
Durham, NH 03824
Phone: 603-868-7436
http://www.e-forecasting.com
info@e-forecasting.com
e-forecasting.com releases eLEI for October
eLEI SINKS TO EXTREME LOW; 100% RECESSION RISK
Durham, NH – November 3rd 2008
– Economic research firm e-forecasting.com today announced that
their eLEI, US leading economic indicator, decreased in October.
Following a decrease of 1.0 percent in September, the
Real Time U.S. Leading Economic Indicator fell 5.4 in October to
101.6. The index is set to average 100 in 2000.
On a
year-over-year basis, eLEI in October declined by an annual rate
of 9.2 percent compared to the same month of last year.
In a note to clients, CEO Maria Simos pointed out the
similarities between the latest reading and trends with the
recession of 1974. She wrote, “only in that time had we seen
such large monthly drops in the US leading indicator. Led by
steep declines in the stock market and future foreign demand,
almost all major components of the US leading indicator bombed
in October, more than tripling the negative depth of the
six-month growth rate.”
Two of the seven components that
make up the Real Time U.S. Leading Economic Indicator improved
in October: Interest rate spread and Manufacturers'
productivity. The components that pulled the indicator down
dramatically were: Manufacturers' new orders; Stock prices;
Consumer expectations; Housing activity and Foreign demand.
e-forecasting.com, an international economic research and
consulting firm, offers forecasts of the economic environment
using proprietary real-time economic indicators and produces
company and industry-specific leading indicators for its
clients. In cooperation with its affiliate, Infometrica, Inc.,
e-forecasting.com works with business publications and clients
across the globe to provide industry, country and state-level
economic content on a monthly and quarterly basis thus their
predictive intelligence input is used by practitioners around
the world.
For complimentary chart to accompany this, or
further information:
http://www.e-forecasting.com or
For a full press release including charts,please
see attached PDF or contact:
info@e-forecasting.com
Phone: 603-868-7436
# # #
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