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Weekly Leading Index Inches Up

A gauge of future U.S. economic growth inched up in the latest week... while its annualized rate of growth held steady, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index edged up to 140.2 in the week ending March 2 from 140.0 in the prior week.

Annualized growth rate was unchanged at 3.2 percent.

"Although WLI growth has eased in recent weeks it remains comfortably above last summer's lows, thus U.S. economic growth prospects are still reasonably positive," said Melinda Hubman, research associate at ECRI.

The rise in the index was partly offset by lower stock prices, Hubman said.