It's a V! Recovery "A Lot Stronger" Than Consensus, ECRI's Achuthan Says

by Aaron Task

Good news for those worried about the economy: "We are in the early stages of the recovery and it looks to be a lot stronger" than the consensus for modest 2%-3% GDP growth, says
Lakshman Achuthan, managing director of the Economic Cycle Research Institute (ECRI).

Furthermore, the recovery will be "V-shaped" and is now "virtually unstoppable" - at least through the first half of 2010 -- Achuthan says, citing a "positive contagion" in the economy right now, based on leading economic indicators. Most notably, the ECRI's index of Weekly Economic Indicators just hit a new record high.