Weekly Leading Index Falls Slightly

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

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index was at 143.7 in the week ended July 20, down from 143.9 the prior week.

The index's growth rate edged up to 6.4 percent from 6.3 percent in the prior week.

"Despite market jitters, WLI growth is holding near three-year highs, providing reassurance about the resilience of the U.S. expansion," said Melinda Hubman, research associate at ECRI.

The index level and growth rate do not always move in the same direction since the growth rate is derived from a four-week moving average.