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Weekly Leading Index Falls


A... leading index of the U.S. economy [was] lower in the latest week, a report said on Thursday.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index slipped to 132.9 in the week ended June 4 compared with a 134.1 in the previous week.

"While U.S. economic growth will stay healthy in the near term, signs of deceleration are clearly on the horizon," said the group's managing director Lakshman Achuthan.

The index's annualized growth rate, which smoothes out weekly fluctuations, decreased for the fourth week in a row and now stands at 5.1 percent. That was its weakest reading in more than a year compared with a revised 6.5 percent in the previous period.