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Weekly Leading Index Slightly Lower

A gauge of future U.S. economic growth was slightly lower in the latest week... while its annualized growth rate reached a four-month high, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slipped to 133.1 in the week to May 16 from 133.4 in the prior period, revised from 133.5...

The index's annualized growth rate improved to negative 6.6 percent, its highest since the week to Dec. 21, from minus 7.2 percent.

"The fact that WLI growth has recovered to its best reading since before Christmas is notable, but falls short of any recovery signal for the business cycle," said Achuthan. "Its uptick is fairly recent, and is not driven by a majority of index components."

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