US econ growth gauge falls to 3-week low- ECRI

NEW YORK, Aug 6 (BestGrowthStock) – A measure of future U.S.
economic growth fell to a 3-week low in the latest week,
confirming the slow pace of the recovery, a research group said
on Friday.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
fell to 120.8 in the week ending August 20 from 122 the
previous week.

That was the lowest since July 23, when it was 120.7.

The index’s annualized growth rate rose to minus 10 percent
from minus 10.2 percent a week earlier. That was the highest
since July 9, when it stood at minus 9.8 percent.

“With the WLI staying essentially flat for the last six
weeks, following a nine-week plunge, it is premature to predict
a new recession, though risks remain,” said Lakshman Achuthan,
managing director of ECRI.
(Reporting by Edith Honan; Editing by Chizu Nomiyama)

US econ growth gauge falls to 3-week low- ECRI