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Weekly Leading Index Rises

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

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index rose to 138.7 in the week ended Dec. 1 from 137.1 in the prior week.

Annualized growth in the week ended Dec. 1 rose to a 26-week high of 1.8 percent from 1.5 percent in the prior period.

"WLI growth has been recovering slowly but steadily from its summertime lows and is now at a 26-week high, thus the growth outlook for the U.S. economy, while still lackluster, is improving gradually," said Lakshman Achuthan, managing director at ECRI.

The gauge rise was marginally offset by lower stock prices, Achuthan said.