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Weekly Leading Index Edges Down

A gauge of future U.S. economic growth fell to a 27-week low... a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index (WLI) eased to 139.2 in the week ended Aug. 24 from 139.7 in the prior week, revised from 139.8.

It said the annualized growth rate in the index declined to 1.3 percent from 2.6 percent in the prior week. It marked its smallest such gain since the week ending Nov. 10, 2006.

"The pullback in WLI growth to a 41-week low suggests a dimming in the economic growth outlook, but not an imminent recession," said Lakshman Achuthan, managing director at ECRI.

The fall in the index was partly offset... Achuthan said.