ECRI Weekly Leading Index

Fri Nov 6, 2009 10:30am EST
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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)