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US future econ growth seen mirroring GDP data-ECRI

 NEW YORK, Jan 29 (Reuters) - A future U.S. economic growth
gauge fell slightly in the latest week and its yearly growth
rate slid to the lowest level since August 2009, though the
data still points to continued strides in the recovery, a
research group said on Friday.
 The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
read 131.4 for the week ended Jan. 22, coming off the prior
week's 83-week high of 132.2.
 The index's annualized growth rate declined for the seventh
straight week to 22.7 percent, from a revised 23.5 percent the
previous week.
 Though yearly growth has drifted from its October all-time
high to its lowest reading since Aug. 28, 2009, ECRI Managing
Director Lakshman Achuthan maintains the group's projections
that there is no double-dip recovery in sight.
 "With the WLI staying near the previous week's 83-week
high, the U.S. business cycle recovery is set to keep going in
the months ahead," Achuthan said.
 He also pointed to government data released earlier on
Friday showing that the U.S. economy grew at a
faster-than-expected pace for the fourth quarter.
 "With GDP growth rebounding 12 percentage points in just
three quarters, the V-shaped recovery foreseen last summer by
the WLI is coming into focus."
 ECRI's annualized growth rate figure sometimes move
inversely to the WLI level, as the latter is derived from a
four-week moving average.
 (Reporting by Camille Drummond; Editing by Theodore
d'Afflisio)


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