Weekly Leading Index Falls

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

The index's annualized growth rate, which smooths out weekly fluctuations, fell to an 81-week low of -1.0 percent from a revised -0.7 percent in the prior week.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index (WLI) dipped to 131.0 in the week ended Oct. 8 compared with 131.8 in the previous week.

"The 81-week low in the WLI growth rate underscores the fact that the economy will not re-accelerate above trend growth any time soon, said," Lakshman Achuthan, Managing Director of ECRI.

"The course that the WLI growth rate takes in the next month or two will clarify if economic growth breaks to the upside or the downside around the spring of 2005," Achuthan added.