We seem to be revising down each week but the overall shape of the WLEI still hints at an index attempting to put in a bottom and recover.
For several quarters now we have been working on getting additional high frequency weekly leading economic data incorporated into the WLEI. It is a lot easier said than done but we are close to the final release of WLEI2 which has 20% more discrete weekly components. What we like about it is that none of the components rely on any shut-down federal agencies which means it should be fairly impervious to an extended government shutdown.
There are very few weekly leading US economic composites that remain pure to their mandate of only using weekly published data, that have not suffered from false positives in the last two business cycles, so WLEI V2.0 is looking very promising.
Have a good weekend.
Dwaine van Vuuren.