Weekly Leading Index Edges Down

A gauge of U.S. economic growth edged down in the latest week...

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index slipped to 138.2 in the week ended Jan. 27 from 138.3 in the prior week.

The index's annualized growth rate rose to 4.6 percent from 3.8 percent the prior week. The latest reading is the strongest since May 28, 2004.

"With the weekly leading index's growth rate at a new 20-month high, U.S. economic growth prospects have brightened slightly," said Lakshman Achuthan, managing director of ECRI.

"The weekly leading index is telling us the economy has maintained its resiliency," he said.