NEW YORK, May 1 (Reuters) - A weekly measure of U.S. future economic growth rose along with its annualized growth rate, indicating imminent economic recovery, 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 a 13-week high of 107.7 for the week ending April 24 from 107.2 in the previous week.
The index's annualized growth rate also climbed to minus 17.4 percent from the prior week's rate of minus 18.6 percent.
"With the level of the WLI in an upswing for seven weeks now, an end to the U.S. recession is now in clear sight," said Lakshman Achuthan, managing director at ECRI.
The index level rose because of lower interest rates and higher commodity prices and was partly offset by lower stock prices, Achuthan said. (Reporting by Camille Drummond; Editing by Padraic Cassidy)