Weekly Leading Index Rises

A gauge of U.S. economic growth rose in the latest week..., a report said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index rose to 137.7 in the week to Jan. 13 from an upwardly revised 136.9 the prior week.

The annualized growth rate of the index edged up to 2.9 percent in the latest week, compared with a revised 2.1 percent in the prior week. The growth rate has reached a 19-week high.

"While the weekly leading index growth has recovered of late, it is still relatively modest, thus U.S. economic growth will continue to hold up but is likely to remain moderate," said Lakshman Achuthan, managing director of ECRI.