“In support of this position, ECRI Co-Founder and Chief Operations Officer Lakshman Achuthan points out correctly that the timing of recessions is often determined only with the benefit of hindsight–often through revisions of prior numbers that initially did not show a recession. Achuthan thinks that, when the final revisions are in, they will show a recession that began in mid-2012.
Achuthan also points to several other measures that he says are consistent with recessions. This data, in his opinion, illustrates that the economy is in fact in a recession. (See charts here).”
Here is a direct link to the video interview.
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