U.S. economic growth gauge weakened last week: ECRI

NEW YORK Fri May 18, 2012 10:42am EDT

Shoppers browse at Macy's Manhattan department store in New York, January 12, 2012. REUTERS/Eduardo Munoz

Shoppers browse at Macy's Manhattan department store in New York, January 12, 2012.

Credit: Reuters/Eduardo Munoz

NEW YORK (Reuters) - A measure of future U.S. economic growth slipped last week, while the annualized growth rate improved modestly, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 124.5 in the week ended May 11 from an unrevised 125.4 the previous week.

The index's annualized growth rate rose to 0.4 percent from zero percent a week earlier.

(Reporting By Leah Schnurr; Editing by Padraic Cassidy)

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