Weekly Leading Index Rises

A leading index of the U.S. economy inched higher in the latest week..., a report showed on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index (WLI) inched up to 131.5 in the week ended Sept. 24 compared with 131.4 in the previous week.

The index's annualized growth rate, which smooths out weekly fluctuations, rose to -0.2 percent from -0.3 percent.

"I think what we have seen here after two months of stability in the WLI index is that there is no recession or re-acccleration in sight, " said Anirvan Banerji, ECRI's director of research."