U.S. economic growth gauge hits highest since April 2011 -ECRI
NEW YORK (Reuters) - A measure of future U.S. economic growth rose to its highest in more than two years in the latest week, while the annualized growth rate also accelerated, 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 131.3 in the week ended June 7, its strongest since April 2011, from a revised 131.0 the previous week. That was originally reported as 130.9.
The index's annualized growth rate increased to 6.6 percent from a revised 6.4 percent a week earlier, which was originally reported as 6.3 percent.
(Americas Economics and Markets Desk; Editing by James Dalgleish)