Weekly Leading Index Ticks Up

A gauge of future U.S. economic growth ticked up in the latest week, with its growth rate steady and near a recent three-year high, a research group said on Friday.

The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index (WLI) was at 142.9 in the week ended June 1, up from 142.5 in the prior week...

The index's annualized growth rate was unchanged at 6.3 percent, just below a three-year high of 6.4 percent recorded the week of May 18.

"With WLI growth holding near three-year highs, the U.S. economic growth is very likely to firm in coming months," said Lakshman Achuthan, managing director at ECRI.