Weekly Leading Index Falls

A leading index of the U.S. economy slipped in the latest week, ..., a report showed on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index fell to 133.5 in the week ended July 8 compared with 134.4 in the prior week.

The index's annualized growth rate, which smoothes out weekly fluctuations, was 1.2 percent compared with 1.4 percent in the prior week.

"Despite this week's down tick, the weekly leading indicator growth rate has improved in recent weeks, indicating U.S. economic growth prospects have brightened a bit," said Lakshman Achuthan, managing director at ECRI.