Economic growth gauge strengthens in latest week: ECRI

NEW YORK Fri Mar 8, 2013 10:38am EST

Traders work on the floor at the New York Stock Exchange, March 6, 2013. REUTERS/Brendan McDermid

Traders work on the floor at the New York Stock Exchange, March 6, 2013.

Credit: Reuters/Brendan McDermid

NEW YORK (Reuters) - A measure of future economic growth rose in the latest week although the annualized growth rate weakened, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index increased to 129.3 in the week ended March 1 from a revised 128.4 the previous week. That figure was originally reported as 128.5.

The index's annualized growth rate softened to 6.2 percent from 6.8 percent a week earlier.

(Americas Economics and Markets Desk)

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