US econ growth gauge at highest point since May- ECRI

NEW YORK, Dec 10 (BestGrowthStock) – A measure of future U.S.
economic growth rose to a 29-week high in the latest week,
while the index’s annualized growth rate rose to a 27-week
high, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
(WLI) rose to 126.4 in the week ended Dec. 3 from 125.3 the
previous week.

That was the highest level since May 14, when it stood at
127.0.

The index’s annualized growth rate rose to minus 1.5
percent from minus 2.4 percent a week earlier. That was the
highest since May 28, when it was 0.1 percent.

“With both the WLI and its growth rate rising to their
best readings since May, a ‘double dip’ back into recession
remains off the table, notwithstanding self-serving recession
warnings that feed fear itself,” said Lakshman Achuthan,
managing director of ECRI.
(Reporting by Edith Honan; Editing by Chizu Nomiyama)

US econ growth gauge at highest point since May- ECRI