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Weekly Leading Index Higher

A gauge of future U.S. economic growth rose in the latest week... with its growth rate slightly down, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index (WLI) rose to 143.9 in the week ended July 6, from a downwardly revised 142.9 in the prior week.

WLI growth rate slipped to 6.2 percent from 6.3 percent in the prior week.

"Though WLI growth has eased slightly in the last three weeks, it steadfastly points to fairly healthy economic growth in the months ahead," said Lakshman Achuthan, managing director at ECRI.

The index rise was partly offset by higher interest rates, Achuthan said.

The index level and growth rate can move in different directions because growth is derived from a four-week moving average.