US yearly economic growth rate at 21-wk high--ECRI

NEW YORK, March 27 (Reuters) - A weekly measure of U.S.
future economic growth climbed along with its annualized growth
rate, indicating signs of a smoother economic recovery, a
research group said on Friday.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
rose to 106.3 for the week ending March 20 from 105.8 in the
previous week.

The index rose to levels last seen in mid-February, and its
annualized growth rate -- while still in negative territory --
reached a 21-week high at -23.2 percent, up from the prior
week's rate of -23.9 percent.

It was the index's highest growth rate reading since late
October, when it was -22.5 percent.

"With WLI growth recovering to a 21-week high, the pace of
contraction in the U.S. economy should begin to ease in coming
months," said Lakshman Achuthan, managing director at ECRI.

The weekly index rose due to stronger money supply and
stock prices, partly offset by higher interest rates and
jobless claims, Achuthan said.
(Reporting by Camille Drummond, Editing by Chizu Nomiyama)