NEW YORK (Reuters) - A measure of future U.S. economic growth slipped to a three-week low last week while the annualized growth rate also eased, 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 131.2 in the week ended August 9 from a revised 131.5. The previous week’s result was originally reported as 131.8.
The index’s annualized growth rate slipped to 4.7 percent from a revised 4.9 percent a week earlier. The previous week’s result was originally reported as 5.3 percent.
Reporting By Steven C. Johnson; Editing by Chris Reese