Weekly Leading Index Rises

In the week to April 25, the Economic Cycle Research Institute's weekly leading index rose to 119.5 from 119.0 in the prior week.

"This continues to suggest an abatement of recession risk, but only a gradual pick-up ahead," ECRI Managing Director Lakshman Achuthan told Reuters. "We expect a gradual return to sub-par growth."

The index's growth rate, a four-week moving average which smoothes out weekly fluctuations, also rose a touch last week, to 0.0 percent from -0.1 percent.

The Weekly Leading Index is composed of seven major economic indicators. ECRI designs short- and long-term indexes aimed at predicting business cycles, recessions and recoveries in the world's leading economies.