March 12, 2010 / 3:36 PM / 10 years ago

US yearly econ growth continues to ease -ECRI

 NEW YORK, March 12 (Reuters) - A gauge of future U.S.
economic growth rose slightly in the latest week while its
yearly growth index continued to fall to a 31-week low,
upholding expectations the economy will likely decelerate
starting mid-year, a research group said on Friday.
 The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
was 130.6 for the week ended March 5, up from 129.8 the
previous week.
 While the index has generally tended downward in 2010, its
annualized growth rate component has fallen for 12 straight
weeks. It now stands at 13.1 percent, down from 13.7 percent
the prior week, marking its lowest reading since July 2009.
 "While coincident indicators like retail sales growth have
been rising in the wake of last year's strength in WLI growth,
they are likely to start easing back by mid-year," said ECRI
Managing Director Lakshman Achuthan.
 The group's measure of yearly growth hit a record high of
28.6 percent in October 2009, and has continued to ease in what
Achuthan says will result in slower expansion beginning during
the summer months.
 (Reporting by Camille Drummond, Editing by Chizu Nomiyama)


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