WLI Falls

A measure of future U.S. economic growth fell in the latest week, and the growth rate weakened on an annualized basis, 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 122.8 in the week ended August 19 from 123.8 the previous week. The previous week's figure was originally reported as 123.9.

The index's annualized growth rate sank to -2.1 percent from -0.1 percent a week earlier.

It was the lowest growth rate since the week of November 26, 2010, according to ECRI.