'Hard landing' still a risk for US economy, and stocks face `tough going'

The US economy still faces the risk of a `hard landing' - or a sharp and disruptive downturn - despite some upbeat data that was reported earlier this year, according to a top forecaster at the Economic Cycle Research Institute.

"The weekly leading index's level is coming back down. For there to be an end through our hard landing outlook - which would be kind of looking at the bottom of the business cycle in a recession - that indicator really has to make a pronounced pervasive and persistent upturn. We're not there yet," Achuthan said. Wednesday.

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