Weekly Leading Index Edges Down

A gauge of U.S. economic growth edged down in the latest week but remained relatively strong overall, a report said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index fell to 136.9 in the week ended Feb. 10 from 138.2 in the prior week...

The index's annualized growth rate eased to 4.7 percent in the latest week compared with 5.2 percent in the prior week.

"On balance, you have a situation where the index fell, but its growth rate is still well above where it was two months ago," said Anirvan
Banerji, director of research for ECRI.

"So despite this latest one-week dip in the index level, growth has clearly improved in the last two months, affirming that U.S. growth prospects are fairly healthy," Banerji said.