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Weekly Leading Index Edges Up

A gauge of future U.S. economic growth edged up in the latest week... but its annualized growth rate fell slightly, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index rose to 143.0 in the week ended June 29 from 142.8 in the prior week.

The index rise was partly offset by lower stock prices, said Lakshman Achuthan, managing director at ECRI.

WLI annualized growth rate declined to 6.3 percent from 6.5 percent the prior week.

"Despite the recent dip, WLI growth remains healthy, underscoring positive prospects for U.S. economic growth throughout the year," Achuthan said.

The index level and growth rate can move in different directions because growth is derived from a four-week moving average.