US yrly growth gauge down, double dip unlikely-ECRI

NEW YORK, Feb 5 (BestGrowthStock) – A future U.S. economic growth
gauge slipped in the latest week, and its yearly growth rate
remained at levels reached in August 2009, maintaining a slim
chances of a double-dip recession with slower growth in the
near-term, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
fell slightly to 130.9 for the week ended Jan. 29 from 131.4
the prior week.

The index’s annualized growth rate declined for the eighth
straight week to 21.5 percent, from 22.7 percent the previous
week.

The yearly growth measure has drifted from its October
all-time high to its lowest reading since a year and a half
ago, but ECRI Managing Director Lakshman Achuthan said trends
pointing to a double-dip recession are “nowhere in sight.”

“The continued easing in WLI growth indicates that U.S.
economic growth will start decelerating in the coming months,”
Achuthan said.

ECRI’s annualized growth rate figure sometimes move
inversely to the WLI level, as the latter is derived from a
four-week moving average.

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(Reporting by Camille Drummond; Editing by Padraic Cassidy)

US yrly growth gauge down, double dip unlikely-ECRI