NEW YORK Nov 21 A measure of future economic
growth in the United States fell to its lowest in 13 years and
its annualized rate showed U.S. economic growth is sliding at
its fastest recorded pace, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based
independent forecasting group, said the annualized growth rate
of its Weekly Leading Index slid in the week ending Nov. 14
from a revised negative 27.1 percent to minus 28.2 percent, a
new low according to ECRI data recorded since January 1949.
"With WLI growth nose-diving to yet another historical low,
the outlook for the economy is worsening at the fastest pace on
record," said Melinda Hubman, research associate at ECRI.
The WLI level fell to a 13-year low of 108.0 from a
downwardly revised 110.1, to match a number not seen since Aug.
The weekly index was pushed down by higher jobless claims
and weaker housing, with the decline partly offset by lower
interest rates, Hubman said.
(Reporting by Rodrigo Campos, Editing by Chizu Nomiyama)