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Weekly Leading Index Rises

A gauge of future U.S. economic growth rose in the latest week... but its annualized growth rate inched down, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index rose to 140.6 in the week to April 6 from a downwardly revised 140.2 in the prior week.

Its annualized growth rate slipped, however, to 3.8 percent from the previous week's 3.9 percent.

"With WLI growth holding well above last summer's lows, the U.S. economy remains in a resilient state of the business cycle," said Lakshman Achuthan, managing director at ECRI.

The rise in the weekly index was partly offset by higher jobless claims, Achuthan said.

Occasionally the WLI level and annualized growth rate move in different directions because the latter is derived from a four-week moving average.