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 128.4.
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 Achuthan.
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)