WLI Falls

A measure of future U.S. economic growth dropped slightly in the latest week, while an annualized growth gauge dropped to its slowest rate since December, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 127.0 in the week ended June 17 from a revised 127.7 the previous week, originally reported at 127.8.

The index's annualized growth rate fell to 2.9 percent from 3.6 percent a week earlier, which was revised from 3.7. It was the slowest rate since the week of December 3, 2010.

The lower score came as U.S. durable goods purchases rose more than expected in May, according to data released on Friday.