January 11, 2013 / 3:36 PM / 5 years ago

Economic growth gauge rises to highest since Aug 2011: ECRI

NEW YORK (Reuters) - A measure of future U.S. economic growth strengthened in the latest week to its highest in a year and a half, while the annualized growth rate edged up, 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 128.3 in the week ended January 4, its best showing since August 2011, from a revised 126.6 the previous week. That was originally reported as 126.4.

The index’s annualized growth rate was 5.1 percent compared with 5.0 percent a week earlier and an initially reported rate of 4.9 percent.

Americas Economics and Markets Desk; Editing by James Dalgleish

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