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Weekly Leading Index Slips


A weekly gauge of U.S. economic activity slipped last week, but its current level still suggests the economy is likely to avert a renewed bout of recession.

The Economic Cycle Research Institute said on Friday its weekly measure of U.S. economic health dipped to 118.3 in the week ended Oct. 25 from a revised 118.8 in the previous week.

The index's growth rate, which smooths out weekly fluctuations, was flat at -3.4 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.