Weekly Leading Index Rises

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

The Economic Cycle Research Institute, an independent forecasting group, said its weekly index rose to a 15-week high of 135.6 in the week ended Aug. 5, from a downwardly revised 134.8 in the prior week.

The index's annualized growth rate jumped to 2.6 percent. The growth rate, which smooths out weekly fluctuations, was at 1.8 percent in
the prior week.

"The WLI (weekly leading index) growth rate is in a clear upswing, indicating that U.S. economic growth prospects have improved noticeably," said Lakshman Achuthan, managing director at ECRI.