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US Econ Growth Gauge Shows Recovery on Track

A measure of future U.S. economic growth rose to a nearly two-year high in the latest week, indicating that the recovery remains underway, 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 133.0 for the week ended April 16, up from 131.3 the prior week, originally reported as 131.2.

That was the highest level since May 23, 2008, when it stood at 133.2.

The index's annualized growth rate fell to a 37-week low of 12.5 percent from 12.6 percent a week earlier.

However, "with the WLI rising to a 99-week high, the economic revival will continue in the months ahead," said Lakshman Achuthan, managing director of ECRI.