U.S. yearly economic growth at September highs-ECRI

NEW YORK, May 15 (Reuters) - A measure of U.S. future
economic growth climbed in the latest week, sending its yearly
growth rate to levels last seen in September, a research group
said on Friday.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
spiked to a 28-week high of 111.0 for the week ending May 8
from 109.7 in the previous week, which was revised higher from
109.3.

ECRI said it sees the U.S. recession ending sometime this
summer as the group's leading index touches its highest levels
this year.

The index's annualized growth rate continued to rise to a
32-week high of negative 13.6 percent from last week's rate of
15.6 percent, which was revised up from negative 16.1 percent.

"With the level of the WLI climbing to a 28-week high over
the last nine weeks, the light at the end of the recession
tunnel is getting brighter," said Lakshman Achuthan, managing
director at ECRI.

The index level was up due to higher commodity prices and
stronger housing activity, and was partly offset by higher
jobless claims figures, Achuthan said.
(Reporting by Camille Drummond, Editing by Chizu Nomiyama)