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Weekly Leading Index Ticks Up

A gauge of future U.S. economic growth ticked up slightly in the latest week, a report showed on Friday, although its annualized growth rate fell for a second straight week.

ECRI, an independent forecasting group, said its weekly leading index edged up to 135.3 in the week to Aug. 11 from a downwardly revised 135.1 in the prior week. It was originally pegged at 135.5...

The index's annualized growth fell in the latest week to negative 1.4 percent. The prior week's growth rate was negative 0.8 percent, revised downwards from 0.4 percent.

"With weekly leading index growth now at a 93-week low, U.S. economic growth prospects continue to dim," said Achuthan.