November 6, 2009 / 3:31 PM / 10 years ago

ECRI US economic growth index climbs to 4-week high

 NEW YORK, Nov 6 (Reuters) - A weekly measure of future U.S.
economic growth rose to a four-week high in the latest week
while its yearly growth rate edged lower, a research group said
on Friday.
 The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
ticked up to 128.8 in the week to Oct. 30, from a revised 128.3
the previous week, which the group originally reported as
 The index's yearly growth rate fell to a five-week low of
26.3 percent from 26.9 percent last week. ECRI has recently
reported annualized economic growth at all-time highs.
 "While WLI growth has backed off from a record high, its
continued strength promises a stronger U.S. economic recovery
than most anticipate," said ECRI Managing Director Lakshman
 The weekly index was up due to higher commodity prices,
Achuthan said. The growth rate is derived from a four-week
moving average, and occasionally moves inversely to the weekly
index level.
  (Reporting by Ciara Linnane; Editing by Chizu Nomiyama)

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