If you want some clarity about the economic outlook, economist Lakshman Achuthan may be able to help.

Achuthan, who is managing director of the Economic Cycle Research Institute, has a strong track record of predicting economic patterns. He told CNBC Friday that there is categorically no likelihood that the U.S. economy will fall into a "double-dip" recession (when a nation's economic output goes into decline, stages a modest recovery, and then falls back into a recession again).

Achuthan said a number of leading economic indicators he monitors point to the economy avoiding a second downturn. He also thinks the Federal Reserve is behind the curve in not anticipating an economic rebound.

You can watch his CNBC appearance here:

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