Boom Doom Economy: USA Economy: No Double Dip Recession, No Rapid Recovery (Videos) *Lakshman Achuthan of ECRI*

Wednesday, November 3, 2010

USA Economy: No Double Dip Recession, No Rapid Recovery (Videos) Lakshman Achuthan of ECRI

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Economy will continue to grow - slowly

USA Economy: No Double Dip Recession, No Rapid Recovery

Previously, on the Weekly Leading Index page, a video of Lakshman Achuthan, Managing Director of the Economic Cycle Research Institute was posted and Achuthan stated we would know by Halloween if the USA was going into a double dip recession (second video below). In a post-Halloween interview (first video below), Achuthan has stated there will be no double dip recession, but no rapid recovery either. Slower GDP growth and slower jobs growth will continue "well into next year". Economy will continue to grow - slowly.

(FBN) ECRI Managing Director Lakshman Achuthan argues even though there won't be a double dip recession, that doesn't mean there will be a rapid recovery.

(Prior Video) Laksham Achuthan of ECRI: Unemployment, the Risk of a New Recession, and Leading Economic Indicators (Video)

In the video below, Laksham Achuthan, Managing Director of the Economic Cycle Research Institute, first talks about economic growth being necessary to reduce the unemployment rate. Later in the video, Achuthan discusses the economic leading indicators and the possibility and risk of a new recession. "Every time you slow down, every time the economy falls back - half the time you go into a recession. I think we are going to be able to determine, one way or the other, by the end of this month, before Halloween, if we are going to go into a recession or not. And if we are, you haven't seen anything yet." Achuthan says the collective forward looking, leading indicators are currently "mixed". The good news is collectively, the leading indicators have stopped falling - "that is the best news I can give you".

(FBN) Managing Director Lakshman Achuthan argues economic growth is needed to soak up jobs that were lost.