May 1, 2009 / 2:31 PM / 11 years ago

Gauge of future US economic growth at 13-wk high-ECRI

 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)


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