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Weekly Leading Index Flat

A gauge of future U.S. economic growth held steady in the latest week...a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index was at 143.9 in the week ended July 13, unchanged from the prior week.

The index's growth rate edged up to 6.3 percent from 6.1 percent in the prior week, revised down from 6.2 percent.

"WLI growth has stayed in a tight band between 6.0 and 6.7 percent for the last 10 weeks. Thus, it is still pointing to healthy economic growth in the months ahead," said Lakshman Achuthan, managing director at ECRI.

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