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Weekly Leading Index Rises

A weekly leading indicator of U.S. economic activity rose to its highest level in over a month, a report on Friday showed.

The Economic Cycle Research Institute's Weekly Leading Index rose to 122.2 in the week ended April 26 from 121.7 in the prior week.

"The index remains in a cyclical uptrend," said Lakshman Achuthan, managing director at ECRI.

The index's growth rate -- which compares the four-week moving average with its behavior over the preceding year -- also rose, to 4.2 percent from 3.9 percent.

The Weekly Leading Index is composed of a balance of seven major economic indicators. ECRI designs short- and long-term indexes aimed at predicting business cycles, recessions and recoveries in the world's leading economies.