Economic growth gauge rises to two-week high: ECRI
NEW YORK (Reuters) - A measure of future U.S. economic growth rose to a 2-week high in the latest week even as the annualized growth rate decreased to an 8-week low, a research group said on Wednesday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 125.7 in the week ended November 16 from 125.2 the previous week. That was its highest since November 2.
The previous week's number was originally reported as 125.4.
The index's annualized growth rate, however, fell to 3.8 percent from 4.3 percent a week earlier. It hit its lowest since September 21.
(Reporting By Edward Krudy; Editing by Theodore d'Afflisio)
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