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Recovery Remains Resilient

A measure of future U.S. economic growth fell in the latest week along with its yearly growth rate, but still upholds forecasts of a steady recovery, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slipped to 131.9 for the week ended April 2, down from a revised 132.0 the prior week, which was originally reported as 131.9.

The index's annualized growth rate fell to 13.6 percent, down from 13.9 percent one week earlier.

"After a 20 week decline, WLI growth has been holding pretty steady for the last six weeks, suggesting that, while U.S. economic growth will ease in coming months, the recovery remains resilient," said Lakshman Achuthan, managing director of ECRI, reaffirming the group's recent forecasts.