Economy growth gauge slips in latest week: ECRI

NEW YORK Fri Jan 4, 2013 10:31am EST

The moon rises behind the skyline of New York's Lower Manhattan and One World Trade Center as people stand along the Hudson River in Jersey City, New Jersey, October 1, 2012. REUTERS/Gary Hershorn

The moon rises behind the skyline of New York's Lower Manhattan and One World Trade Center as people stand along the Hudson River in Jersey City, New Jersey, October 1, 2012.

Credit: Reuters/Gary Hershorn

NEW YORK (Reuters) - A measure of future U.S. economic growth dropped in the latest week, while the annualized growth rate also slowed, 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 126.4 in the week ended December 28 from a revised 127.6 the previous week. That was originally reported as 128.3.

The index's annualized growth rate slowed to 4.9 percent from 5.1 percent a week earlier, which was also revised lower from 5.4 percent.

(Americas Economics and Markets Desk)

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