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

NEW YORK, Oct 22 (BestGrowthStock) – A measure of future U.S.
economic growth fell to a six-week low in the latest week,
while the index’s annualized growth rate rose to an 18-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
fell to 122.1 in the week ended Oct. 15 from 122.2 the previous
week.

That was the lowest since September 3, when it stood at
121.9.

The index’s annualized growth rate rose to minus 6.8
percent from minus 7.0 percent a week earlier. That was the
highest since June 11, when it stood at minus 6.1 percent.

Occasionally the index level and growth rate can move in
different directions, because the growth rate is derived from a
four-week moving average, the research institute said.
(Reporting by Edith Honan; Editing by Chizu Nomiyama)

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