Weekly Leading Index Ticks Up

A weekly gauge of future U.S. economic growth ticked up... while its annualized growth rate hit a near five-year low, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 138.7 in the week ended Nov. 30 from a downwardly revised 136.9, initially reported as 138.1.

The WLI annualized growth rate fell to minus 2.7 percent from a downwardly revised minus 2.2 percent, reaching its lowest since the week of Nov. 22, 2002.

"With WLI growth falling to a five-year low, the U.S. economic growth outlook has clearly faded," Hubman said.