Gauge of U.S. economy rose in latest week: ECRI

NEW YORK (Reuters) - A gauge of future U.S. economic growth rose in the latest week, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index increased to 141.6 in the week ended April 20 from 140.4 in the prior week.

The rise was due to higher stock prices, improved housing activity and lower interest rates, although the strength was offset in part by lower money supply, it group said.

The index's annualized growth rate rose to 4.0 percent from 3.6 percent the prior week.

"With WLI growth recovering to an 11-week high, U.S. economic growth prospects have begun to improve once again," said Melinda Hubman, research associate at ECRI.