US future econ growth gauge sees recovery intact-ECRI

NEW YORK, May 7 (BestGrowthStock) – A measure of future U.S.
economic growth rose to a more than two-year high in the latest
week, bolstering expectations that the recovery is intact, 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 134.7 for the week ended April 30 from from 133.6 the
prior week, originally reported as 133.7.

That was the highest level since Jan 18, 2008, when it
stood at 135.0.

The index’s annualized growth rate rose to a four-week high
of 12.7 percent from 12.3 percent a week ago, originally
reported as 12.4 percent.

“With the forward-looking WLI rising to its best reading
since January 2008, there is little risk of renewed recession
this year,” said Lakshman Achuthan, managing director of ECRI.

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(Reporting by Ciara Linnane; Editing by Padraic Cassidy)

US future econ growth gauge sees recovery intact-ECRI