RPT-ECRI leading index of US growth at record rate

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NEW YORK, Oct 9 (Reuters) - As the U.S. economy rebounds
from a long-running recession, a weekly leading index of future
growth released on Friday showed the annualized growth rate
hitting a record high.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
rose to 128.3 in the week to Oct. 2 from 127.1 the prior week.

The index's yearly growth rate rose to new all-time high of
26.1 percent in the latest reading, from a revised 25.0 percent
the prior week.

"With WLI (Weekly Leading Index) growth rocketing to a new
record high, the economic recovery will prove to be far more
resilient in coming months than most believe possible," said
Lakshman Achuthan, ECRI's managing director.

"The risk of a double dip (recession) is very low,"
Achuthan added.

The index was pushed up by stronger housing activity, he
said.

(Reporting by John Parry; Editing by Chizu Nomiyama)