August 6, 2010 / 2:32 PM / 10 years ago

US econ future growth gauge rises to 6-wk high-ECRI

 NEW YORK, Aug 6 (Reuters) - A measure of future U.S.
economic growth rose to a six-week high in the latest week, but
held at a level that suggests the recovery will remain
sluggish, 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 121.8 in the week ended July 30 from 121.0 the previous
week, originally reported at 121.1.
 That was the highest level since June 18, when it stood at
122.3.
 The index's annualized growth rate rose to minus 10.3
percent from minus 10.7 percent a week earlier. That was the
highest since July 9, when it stood at minus 9.8 percent.
  "After being essentially flat since late June following a
two-month plunge, the WLI has now risen to a six-week high, but
a more sustained downturn in the WLI would certainly heighten
recession risks." said Lakshman Achuthan, managing director of
ECRI.
  (Reporting by Ciara Linnane; Editing by Padraic Cassidy)


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