July 2, 2010 / 2:50 PM / 9 years ago

Econ growth gauge still indicates slowdown: ECRI

NEW YORK (Reuters) - A measure of future economic growth fell slightly in the latest week, while its annualized growth rate continued to decline, indicating the economy is about to slow, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slipped to 122.2 in the week ended June 25 from 122.9 the week before.

The index’s annualized growth rate fell to minus 7.7 percent from minus 6.9 percent the prior week.

That was its lowest level since May 22, 2009 when it stood at minus 8.7 percent.

Reporting by John Parry; Editing by Theodore d'Afflisio

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