September 6, 2013 / 2:32 PM / 4 years ago

U.S. economic growth gauge gains, annual rate drops

NEW YORK (Reuters) - A measure of future U.S. economic growth picked up slightly last week but the annualized growth rate fell to its lowest in 39 weeks, 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 131.5 in the week ended August 30, its highest in four weeks. It stood at 131.3 the previous week.

The index’s annualized growth rate dipped to 3.9 percent, the lowest since November 30, 2012. It stood at 4.2 percent a week earlier.

Reporting by Luciana Lopez; Editing by Chizu Nomiyama

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