November 16, 2012 / 3:36 PM / 5 years ago

U.S. economic growth gauge hits eight-week low: ECRI

NEW YORK (Reuters) - A measure of future U.S. economic growth decreased to an eight-week low in the latest week, and the annualized growth rate also fell, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 125.4 in the week-ended November 9 from 126.1 the previous week. That was the lowest level since September 14.

The previous week’s figure was revised down from 126.2.

The index’s annualized growth rate fell to 4.4 percent from 5.0 percent a week earlier, hitting its lowest since September 21, a seven-week low. The previous week’s growth rate was revised down from 5.1 percent. (Reporting By Edward Krudy)

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