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Weekly Leading Index Growth 3 Year High

A gauge of future U.S. economic growth rose in the latest week, with its growth rate reaching a fresh three-year high, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index, or WLI, was at 143.8 in the week ended June 8, up from a revised 143.2 in the previous week...

The WLI annualized growth rate reached 6.9 percent, the highest since May 14, 2004, when it was 7.2 percent.

"With WLI growth at its highest reading in over three years, U.S. economic growth is bound to pick up in the months ahead," said Lakshman Achuthan, managing director at ECRI...