US econ gauge shows easing of growth pace-ECRI

NEW YORK, April 30 (BestGrowthStock) – A measure of future U.S.
economic growth rose in the latest week but its annualized
growth rate fell, signaling a slowing in the pace of economic
growth going forward, 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 an almost two-year high of 133.7 for the week ended
April 23, from 133.0 the prior week.

That was the highest level since May 9, 2008, when it stood
at 133.8.

But the index’s annualized growth rate fell to a 38-week
low of 12.4 percent from 12.5 percent a week earlier. That was
the lowest since July 31, 2009, when it stood at 11.2 percent.

“With WLI growth declining to a 38-week low, overall U.S.
economic growth will soon begin to ease, in line with the
downshift in GDP growth shown in this morning’s data,” said
Lakshman Achuthan, managing director of ECRI.

Earlier, a government report showed the U.S. economy grew
at a slightly slower-than-expected 3.2 percent pace in the
first quarter, held back by inventories and exports, but
resurgent consumer spending offered evidence of a sustainable

Analysts were expecting GDP growth of 3.4 percent after a
5.6 percent growth rate in the fourth quarter. For more, see

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(Reporting by Ciara Linnane, Editing by Chizu Nomiyama)

US econ gauge shows easing of growth pace-ECRI