A measure of future U.S. economic growth edged up in the latest week, while the annualized growth rate also rose, 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 123.6 in the week ended Aug. 24 from 123.3 the prior week.

The index's annualized growth rate improved to +0.6 percent in the most recent week from -0.1 percent a week earlier.