NEW YORK, Jan 9 (Reuters) - A measure of future economic growth in the United States and its annualized growth rate rose in the latest week but are still near all-time lows, a sign that the way out of recession is still out of sight, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose in the week ending Jan 2 to 109.4 from 108 in the previous week.
The index’s annualized growth rate ticked up to negative 26.8 from negative 28.7 percent.
“While WLI growth has inched up over the past four weeks, it remains deep in negative territory, indicating that an economic recovery is not yet in sight,” said Lakshman Achuthan, managing director at ECRI.
The weekly index rose due to higher stock prices and lower interest rates and jobless claims, partly offset by weaker money supply growth, Achuthan said. (Reporting by Ciara Linnane; Editing by Chizu Nomiyama)
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