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U.S. economic growth gauge gained last week: ECRI
February 8, 2013 / 3:36 PM / 5 years ago

U.S. economic growth gauge gained last week: ECRI

NEW YORK (Reuters) - A measure of future U.S. economic growth rose modestly last week, while the annualized growth rate improved to a fresh high of more than 2-1/2-years, 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 130.2 in the week ended Feb 1 from 129.6 the previous week. That was originally reported as 129.7.

The index’s annualized growth rate climbed to 8.9 percent from 8.2 percent a week earlier. It was the highest level since May 2010.

Reporting by Leah Schnurr; Editing by Chizu Nomiyama

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