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Weekly Leading Index Edges Up

A gauge of future U.S. economic growth rose to a record high in the latest week, while annualized growth hit a 29-week high, a report said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index rose to 140.8 in the week to Dec. 8 from an upwardly revised 138.9 in the prior week...

Annualized growth rose to 2.8 percent from 1.8 percent, also revised up.

"With WLI growth recovering to a 29-week high, recession risks have clearly receded, though the U.S. growth outlook remains lackluster," said Lakshman Achuthan, managing director at ECRI.