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Weekly Leading Index Slips

A gauge of future U.S. economic growth slipped in the latest week but its annualized growth rate, while still in recessionary territory, was at a 22-week high, indicating improvement in short-term growth prospects, 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 132.8 in the week to May 23 from 133.0 in the prior period, revised down from 133.1...

The index's annualized growth rate improved to negative 6.0 percent, its highest since the week to Dec. 21, from minus 6.6 percent.

"The WLI declined for the third straight week, but its smoothed growth rate recovered to a 22-week high," said Achuthan. "Thus, shorter-term U.S. growth prospects have improved a little, but remain recessionary."

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