US econ growth gauge shows recovery on track-ECRI

NEW YORK, April 23 (BestGrowthStock) – A measure of future U.S.
economic growth rose to a nearly two-year high in the latest
week, indicating that the recovery remains underway, 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 133.0 for the week ended April 16, up from 131.3 the
prior week, originally reported as 131.2.

That was the highest level since May 23, 2008, when it
stood at 133.2.

The index’s annualized growth rate fell to a 37-week low of
12.5 percent from 12.6 percent a week earlier.

However, “with the WLI rising to a 99-week high, the
economic revival will continue in the months ahead,” said
Lakshman Achuthan, managing director of ECRI.

Stock Market News

(Reporting by Tom Ryan; Editing by Chizu Nomiyama)

US econ growth gauge shows recovery on track-ECRI