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Weekly Leading Index Pushes Up

A gauge of future U.S. economic growth rose in the latest week...

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index rose to 137.4 in the week ended June 2 from 136.4 in the prior week.

The index's annualized growth rate slipped to 2.1 percent in the latest week from a revised 2.6 percent in the prior week, previously reported at 2.5 percent.

"With growth (of the index) falling to a 10-week low, U.S. economic growth prospects have dimmed a little," said Lakshman Achuthan, managing director at ECRI.

The growth rate is based on a moving average and its direction can move in the opposite direction from the weekly index in some cases, Achuthan said.