US econ growth gauge rises to 9-week high- ECRI

NEW YORK, Aug 13 (BestGrowthStock) – A measure of future U.S.
economic growth rose to a nine-week high in the latest week, 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 122.4 in the week ended August 6 from 121.7 the
previous week.

That was the highest level since June 4, when it stood at
122.7

“The WLI plummeted for two months through late June before
flattening out and then rising to a nine-week high. But if it
turns down once again, that would signal heightened recession
danger,” said Lakshman Achuthan, managing director of ECRI.

The index’s annualized growth rate rose to minus 9.8
percent from minus 10.3 percent a week earlier. That was the
highest since July 9, the last time it stood at minus 9.8
percent.
(Reporting by Edith Honan; Editing by Chizu Nomiyama)

US econ growth gauge rises to 9-week high- ECRI