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For some perspective on the future state of the US economy, today's chart presents the ECRI Leading Index (a composite of seven indicators chosen for their ability to signal both the beginning and the end of economic recessions). Since 1970, a significant downturn in the index of leading economic indicators has preceded the beginning of a recession by about ten months; a significant upturn in the index has preceded the end of a recession by an average of two months. The exception to this was following the financial crisis as the economy worked to realign some historic imbalances. Over the past year, the ECRI Leading Index has surged and is currently at all-time record highs -- a positive sign for the economy over the near-term.

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Quote of the Day
"Henry Ford was right. A prosperous economy requires that workers be able to buy the products that they produce. This is as true in a global economy as a national one." - John J. Sweeney

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