e-forecasting.com releases eLEI for October

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e-forecasting Releases eLEI for October

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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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