U.S. economy gauge up but still recessionary -ECRI

NEW YORK, April 11 (Reuters) - A gauge of future U.S. economic growth and its annualized growth rate were both slightly higher in the latest week but still point to recession, 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 131.9 in the week to April 4 from 129.8 in the prior week, revised down from 129.9.

The uptick was due to higher commodity and stock prices, but was partly offset by higher interest rates, said Melinda Hubman, research associate at ECRI.

The index's annualized growth rate edged up to minus 10.7 percent from minus 10.8 percent, the lowest since October 2001.

"Despite the latest uptick, the WLI remains in a recessionary downturn," said Hubman. (Reporting by Rodrigo Campos; Editing by Dan Grebler)