A measure of future U.S. economic growth edged up last week to its highest level since April 2011, while the annualized growth rate held steady, 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 131.3 in the week ended July 19 from 131.2 the previous week.

The index's annualized growth rate was unchanged at 4.5 percent.