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A Framework That Provides Clarity

During periods of “low visibility,” confusion reigns: for every indication of one trend, there seems to be a countertrend. The key is to glean from the collective wisdom of reliable leading indicators a clear signal that the economy is headed for a turn.

Reports & Indexes

Recession - Recovery Watch

ECRI leading indexes turn before the economy does, allowing us to presage business cycle inflection points well before the consensus. We closely monitor over 100 proprietary cyclical indexes, and our written reports for professional members deliver in-depth, nuanced analyses of shifting risks in economic growth and inflation worldwide.

We publicly release the latest data on two leading indexes of growth and inflation that are presented in this basic U.S. economic dashboard.

  • The U.S. Weekly Leading Index (WLI) of economic activity is available every Friday.
  • The U.S. Future Inflation Gauge (FIG) is a monthly leading index of inflation.

Cycle Dashboard

Check on these two indexes every Friday: The FIG shows how hot the economy is running; the WLI tells you if it's about to race ahead or stall. If either plunges or rises convincingly, it signals a shift in the risk of a turning point.

Read Mr. Greenspan's Blind Spot

WEEKLY INDEXES(GROWTH RATES,%)
ECRI's U.S. Weekly Leading Index (WLI) is a composite leading index that anticipates cyclical turning points in U.S. economic activity by 2-3 quarters. Cycles in economic activity are captured by our U.S. Weekly Coincident Index, which is a comprehensive measure of the economy's current state, tracking indicators of production, employment, income, and sales.
MONTHLY LEADING, COINCIDENT AND
LAGGING INDEXES (GROWTH RATES, %)
These indexes summarize leading indicators that turn before the U.S. economy does (monthly version of WLI, top line), coincident indicators that turn in step with it (U.S. Coincident Index, middle line) and lagging indicators that turn after the economy does (U.S. Lagging Index, bottom line). Horizontal dashes near the bottom mark off U.S. business cycle recessions.

About ECRI Reports

About ECRI Reports

Expert analysis of evolving cyclical outlook.

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Testimonial

In March [2009], the month the market scraped bottom, ECRI went forth with [a] tablepounding historical observation… The implication could not have been clearer that a market rally, when it started, would be no sucker's affair but the real McCoy.
- Grant's Interest Rate Observer
ECRI has had a very stellar record. They've been making pretty bold calls and going against the conventional wisdom. So far their record has been one of the most impressive, and has been written up in the press as well as talked about in policy circles.
- IMF
Nothing in the world compares with ECRI’s insights into the business cycle. Those insights form a key part of our strategic and tactical management of asset class allocations. We have never been disappointed in following what ECRI’s indicators suggest is likely to occur next.
- ECRI Professional Member
Inflation Ahoy! We're indebted to the ECRI, that unnapping watchdog of inflation, for the FIG data.
- Alan Abelson, Barron's
As an investment strategist, I need to navigate the many twists and turns in the emerging economic landscape with as much foresight as possible to know when to take or avoid risk. In this quest, ECRI’s array of leading indices, specifically designed to predict and navigate economic turning points, have been an indispensible tool.
- ECRI Professional Member
I have to pay attention to those people and indicators that have pointed in the right direction – even when they've gone against the crowd (and my opinion at the time). One such outfit is the Economic Cycle Research Institute, whose various leading indicators actually have done just that – lead where things were headed.
- Randall Forsyth, Barron's