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Weekly Leading Index Rises

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

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index increased to 141.6 in the week ended April 20 from 140.4 in the prior week.

The index's annualized growth rate rose to 4.0 percent from 3.6 percent the prior week.

"With WLI growth recovering to an 11-week high, U.S. economic growth prospects have begun to improve once again," said Melinda Hubman, research associate at ECRI.