Wednesday, July 31, 2013

ECRI's Achuthan recession call: an updated chronology

Lakshman Achuthan of the Economic Cycle Research Institute has been calling a recession since at least September 2011. In 2011 he forecasted that the U.S. economy would enter a new recession in 2012, and recently he has been "backcasting" and reiterating the same view. Here is the chronology of his calls, updated through yesterday (hat tip to Business Insider, who compiled the links up until Sep. 2012):

Sep. 30, 2011: Recession is "inescapable"
Feb. 24, 2012: GDP data signals U.S. recession
May 9, 2012: Renewed U.S. recession call
Jul. 10, 2012: We are in recession already
Sep. 13, 2012: U.S. economy is in a recession
Nov. 29, 2012: Achuthan defends call for U.S. recession
Mar. 7, 2013: Recession began middle of 2012
Jul. 30, 2013: U.S. recession began in 2012


Anonymous said...

He has been wrong since 2011, why would I believe him now.

Francisco said...

Exactly. That's the point.