Weekly Leading Index Holds Steady

A gauge of future U.S. economic growth held steady in the latest week but its growth rate slipped, while holding close to a three-year high, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index (WLI) stood at 142.8 in the week ended June 22, unchanged from a downwardly revised reading in the prior week...

WLI annualized growth rate declined to 6.5 percent from 6.7 percent reported the prior week.

"With weekly leading index growth holding near three year highs for the last seven weeks, U.S. economic growth prospects remain good," Achuthan said.

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