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Markets News

U.S. future econ growth gauge climbs higher - ECRI

 NEW YORK, Dec 18 (Reuters) - A weekly measure of future
U.S. economic growth continued to rise, reaching levels hit in
the summer of 2008, while its yearly growth rate climbed toward
recent record levels, a research group said on Friday, saying
this reaffirmed its forecasts of smooth recovery into 2010.
 The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
rose to 130.7 in the week ended Dec. 11 from an upwardly
revised 130.2 the previous week. ECRI originally reported the
previous week's number as 130.1.
 The index's annualized growth rate rose to a four-week high
of 24.7 percent from 24.0 percent the prior week, which was
revised higher from 23.8 percent.
 Yearly growth has risen for three straight weeks,
rebounding toward its record high of 28.1 percent reached in
October.
 "With the WLI rising to a 17-month high as its growth rate
reaccelerates, a resilient economic recovery is poised to
persist well into the New Year," said Lakshman Achuthan,
Managing Director at ECRI.
 This week's index rose due to stronger commodities,
Achuthan said.
 (Reporting by Camille Drummond, Editing by Chizu Nomiyama)


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