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US recovery may be strongest since early 1980s--ECRI

 NEW YORK, Aug 14 (Reuters) - A U.S. future economic growth
gauge rose in the latest week, as its yearly growth rate surged
to a 26-year high, suggesting that recovery will commence at
the briskest pace in decades, 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 a 47-week high of 123.9 in the week to Aug. 7 from a
downwardly revised 121.7 the prior week, which was originally
reported at 121.8.
 Meanwhile, the index's annualized growth rate leapt to a
26-year high of 13.4 percent from last week's five-year high of
10.4 percent, which ECRI originally reported at 10.5 percent.
 It was the index's highest yearly growth rate reading since
the week to Aug. 26, 1983, when it stood at 13.9 percent.
 "With WLI growth surging, the odds are rising that the
early stage of this economic recovery will be stronger than any
since the early 1980s," said Lakshman Achuthan, Managing
Director at ECRI.
 Achuthan recently told Reuters that the national recovery
would be stronger than many expect, though signs of such strong
growth will not be apparent until sometime next year.
 "Next year, looking back you'll see that GDP, industrial
production, sales, and even non-manufacturing jobs growth --
where 91 percent of Americans work -- began rising as recovery
took hold," Achuthan said.
 (Reporting by Camille Drummond; Editing by Padraic Cassidy)


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