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Weekly Leading Index Rises

A weekly gauge of future U.S. economic growth continued to rise in the latest period..., a report showed on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index level rose to a 28-week high at 138.5 in the week ended Nov. 10 from an upwardly revised 137.9 in the prior week.

Annualized growth in the week ended Nov. 10 rose to 1.2 percent from an upwardly revised 0.6 percent in the prior period --a 22-week high.

"WLI growth has now increased to a 22-week high and U.S. economic growth prospects, while remaining lackluster, have begun to revive a little," said Lakshman Achuthan, managing director at ECRI.