NEW YORK, July 11 A gauge of future U.S.
economic growth and its annualized growth rate rose in the
latest week, but the latter is still deep into negative
territory indicating a recession is at hand, 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 132.5 in the week to July 4 from 131.2 in the previous
The rise in the index was due to higher commodity prices
and stronger housing, and was partly offset by lower stock
prices, said Melinda Hubman, research associate at ECRI.
The index's annualized growth rate edged up to negative 6.1
percent from minus 6.3 percent.
"Despite the latest uptick, WLI growth remains deep in
negative territory and the economic outlook continues to be
recessionary," Hubman said.
(Reporting by Rodrigo Campos; Editing by Theodore d'Afflisio)