U.S. economic growth gauge gained last week: ECRI
NEW YORK (Reuters) - A measure of future U.S. economic growth rose modestly last week, while the annualized growth rate improved to a fresh high of more than 2-1/2-years, 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 130.2 in the week ended Feb 1 from 129.6 the previous week. That was originally reported as 129.7.
The index's annualized growth rate climbed to 8.9 percent from 8.2 percent a week earlier. It was the highest level since May 2010.