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Weekly Leading Index Rises


A leading index of the U.S. economy rose to a 12-week high in the latest week..., a report showed on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index rose to 134.9 in the week ended July 29 compared with a downwardly revised 134.4 in the prior week.

The index's annualized growth rate inched up to 1.8 percent. The growth rate, which smooths out weekly fluctuations, was 1.7 percent in the prior week.

"These recent readings in the WLI suggest that the cyclical slowdown forecast over a year ago is drawing to an end and U.S. economic growth
prospects are improving gradually," said Lakshman Achuthan, managing director at ECRI.

"The fact that growth is not likely to slow sharply is further evidenced by today's employment report, showing that the U.S. job
markets is gaining some traction," Achuthan added...