US growth gauge falls to lowest since July ’09-ECRI

NEW YORK, July 9 (BestGrowthStock) – A measure of future U.S.
economic growth fell to the lowest since July 2009, indicating
that the economy will continue to slow, 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 121.5 for the week ended July 2, down from 122.3 in the
prior week.

That was the lowest level since July 24, 2009 when it stood
at 120.3.

The index’s annualized growth rate fell to -8.3 percent
after a -7.6 percent growth rate a week earlier.

(Reporting by Walden Siew, Editing by Chizu Nomiyama)

US growth gauge falls to lowest since July ’09-ECRI