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Weekly Leading Index Drops

...The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index fell to 135.4 in the week ended July 28 from a downwardly revised 136.2 in the prior week. It was originally pegged at 136.3.

The index's annualized growth also slipped in the latest week to 0.1 percent. The prior week's growth rate was 0.5 percent, revised downwards from 0.6 percent.

"With weekly leading index growth falling to a 59-week low, U.S. economic growth prospects have dimmed further," said Lakshman Achuthan, a managing director at ECRI.