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Weekly Leading Index Edges Up

A weekly gauge of future U.S. economic growth edged up in the latest period on higher stock prices and lower interest rates, a report showed on Wednesday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index edged up to a 27-week high of 138.2 in the week ended Nov. 17 from a downwardly revised 138.1 in the prior week.

Annualized growth rose to 1.6 percent from 1.1 percent in the prior period, slightly revised down.

"With WLI growth continuing to climb, U.S. economic growth prospects have improved, but promise only modest near-term growth," said Lakshman Achuthan, managing director at ECRI.