UPDATE 1-US future econ growth gauge up in latest week-ECRI

(Adds details from report)

NEW YORK, Dec 31 (Reuters) - A weekly gauge of future U.S.
economic growth edged higher in the latest week, and though its
yearly growth rate slipped, recent patterns in the index still
point to a steady recovery and growth in the job market as
well, a research group said on Thursday.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
rose to a 77-week high of 131.2 for the week ended Dec. 25,
from a downwardly revised 130.3 the prior week, which was
originally reported as 130.4.

The index's annualized growth rate ticked down to a
three-week low of 24.2 percent from 24.4 percent the previous
week.

It was the lowest yearly growth measure for the index since
it reached record highs in early October. The figures have
remained in a range between 24.2 percent and 27.6 percent since
the all-time high.

Recent steady growth in the leading index "points to
continuing improvement in economic activity and the jobs market
in coming months," said Lakshman Achuthan, Managing Director at
ECRI.

(Reporting by Camille Drummond, Editing by Chizu Nomiyama)