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Weekly Leading Index Slips

A weekly gauge of future U.S. economic growth slipped in the latest period... a report showed on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index fell to 137.1 in the week ended Nov. 24 from a downwardly revised 137.6 in the prior week.

Annualized growth in the week ended Nov. 24 rose to 1.5 percent --a 25-week high-- from 1.4 percent in the prior period, also revised down.

"WLI growth has recovered from its summertime lows, but remains restrained. Despite weakness... this is consistent with modest near-term growth in the U.S. economy," said Lakshman Achuthan, managing director at ECRI.

The slip in the index level was partly offset by..., Achuthan said.

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