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WLI Level Falls

A measure of future U.S.economic growth fell to a 2-week low in the latest week, but remains largely stable, 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 122.2 in the week ended Sept. 17 from 122.6 the previous week.

That was the lowest since Sept. 3, when it was 121.9.

The index's annualized growth rate rose to a 12-week high, reaching minus 8.7 percent from a downwardly revised minus 9.3 percent a week earlier. This was earlier reported as minus 9.2.

That was the highest since June 25, 2010, when it was minus 8.4 percent .

"After a brief plunge in the late spring, the WLI has been fairly stable throughout the summer and into September, suggesting that it is still premature to predict a new recession," said Lakshman Achuthan, managing director of ECRI.