Economic growth gauge at four-week high: ECRI

NEW YORK Fri Jun 7, 2013 11:00am EDT

The moon rises behind the skyline of midtown Manhattan in New York as seen from Jersey City, New Jersey January 27, 2013. REUTERS/Gary Hershorn

The moon rises behind the skyline of midtown Manhattan in New York as seen from Jersey City, New Jersey January 27, 2013.

Credit: Reuters/Gary Hershorn

NEW YORK (Reuters) - A measure of future economic growth rose to the highest level since early May last week, though the annualized growth rate edged lower, 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 130.9 in the week ended May 31 from 130.7 the previous week.

The index's annualized growth rate slipped to 6.3 percent from 6.5 percent a week earlier.

(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)

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