March 30, 2012 / 2:36 PM / 7 years ago

Economic growth gauge rises in latest week: ECRI

NEW YORK (Reuters) - A measure of future U.S. economic growth rose in the latest week, and the growth rate on an annualized basis was non-negative for the first time since August, 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 125.9 from a revised 125.4 in the week ended March 23.

The index’s annualized growth rate rose to 0.0 percent from a revised minus 0.8 percent a week earlier. It was originally reported at minus 0.4 percent.

The growth rate was the first non-negative reading since the week of August 12, according to ECRI.

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