A measure of future U.S. economic growth fell in the latest week and the growth rate weakened on an annualized basis, 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 121.6 in the week ended June 1 from 122.3 the previous week.

The index's annualized growth rate fell to minus 2.0 percent from a revised minus 0.7 percent a week earlier. It was originally reported at minus 0.6 percent.