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Weekly Leading Index Slips

NEW YORK, Nov 3 (Reuters) - A weekly gauge of future U.S. economic growth slipped in the latest period on slower housing activity and higher jobless claims, a report showed on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index fell to 136.1 in the week ended Oct. 27 from a downwardly revised 136.3 in the prior week.

"WLI growth remains subdued, suggesting that U.S. economic growth will continue to languish for now," said Melinda Hubman, research associate at ECRI.

The decline was marginally offset by higher stock prices, Hubman said.

Annualized growth in the week ended Oct. 27 fell to minus 0.3 percent from minus 0.1 percent in the prior period.