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Weekly Leading Index Edges Up

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

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index rose to 137.5 in the week ended June 9 from a downwardly revised 137.2 in the prior week. The prior week's number was originally reported at 137.4

The index's annualized growth rate edged down to 1.5 percent in the latest week from a downwardly revised 1.8 percent in the prior week. The growth rate was originally pegged at 2.1 percent.

"With the weekly leading index growth falling to a 29-week low, U.S. economic growth prospects have dimmed," said Lakshman Achuthan, managing director at ECRI.