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US future econ growth index up in latest week--ECRI

 NEW YORK, Oct 30 (Reuters) - A weekly measure of future
U.S. economic growth rose in the latest week while its yearly
growth rate edged lower, indicating that the economic recovery,
while easing, is still poised to strengthen in the near term, a
research group said on Friday.
 The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
ticked up to 128.4 in the week to Oct. 23 from 127.9 the
previous week.
 The index's yearly growth rate fell to 26.9 percent from
27.2 percent last week. ECRI has recently reported annualized
economic growth at all-time highs.
 "Despite coming off its early-October record high, WLI
growth remains robust, suggesting that the U.S. economic
recovery will continue to gather strength in the coming
months," said ECRI Managing Director Lakshman Achuthan.
 The weekly index was up due to higher commodity prices,
Achuthan said. The growth rate is derived from a four-week
moving average, and occasionally moves inversely to the weekly
index level.
 (Reporting by Camille Drummond, Editing by Chizu Nomiyama)


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