Gauge of U.S. economy higher in latest week - ECRI
NEW YORK, April 20 (Reuters) - A gauge of future U.S. economic growth rose slightly in the latest week, a research group said on Friday.
The increase was due to lower jobless claims and higher stock prices, though the strength was offset in part by higher interest rates, the research group said.
The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index edged up to 140.4 in the week ended April 13 from 140.3 in the prior week.
Its annualized growth rate stayed steady at 3.6 percent.
"With WLI growth holding steady, comfortably above last summer's lows, the U.S. economy is set to show reasonably healthy growth in the coming months," said Melinda Hubman, research associate at ECRI.
