Weekly Leading Index Rises

A leading index of the U.S. economy rose in the latest week..., but the weekly report on Friday was not entirely upbeat.

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index (WLI) inched up to 131.6 in the week ended Oct. 15 compared with 131.0 in the previous week...

The index's annualized growth rate, which smooths out weekly fluctuations, remained unchanged at an 81-week low of -1.0 percent.

"The WLI index is us telling that a neither a strong rebound nor a severe downturn lays ahead for the economy," said, Lakshman Achuthan, Managing Director of ECRI.

"However, the slowing that the index has telegraphed for many months is likely to be more concentrated in the manufacturing sector," Achuthan added.