US economic growth gauge falls in latest week-ECRI

NEW YORK, May 28 (BestGrowthStock) – A measure of future U.S.
economic growth fell to a 39-week low in the latest week,
pointing to a slowdown in economic growth, 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 125.6 in the week ended May 21, down from a revised
127.2 the previous week, originally reported as 127.3.

That was the lowest level since Aug. 21, 2009, when the
index stood at 125.3.

The index’s annualized growth rate tumbled to a 47-week low
of 5.1 percent from 9.0 percent a week ago. That’s the worst
level since June 26, 2009, when it stood at 4.6 percent.

“The downturn in WLI growth evident since early 2010 has
recently intensified, so it should be no surprise when U.S.
economic growth slows noticeably in the months ahead,” said
Lakshman Achuthan, managing director of ECRI.

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(Reporting by Ciara Linnane; Editing by Theodore d’Afflisio)

US economic growth gauge falls in latest week-ECRI