WLI Slips

A measure of future U.S. economic growth fell in the latest week, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slid to 127.9 in the week ended August 5 from 128.2 the previous week, originally reported at 128.3 percent.

The index's annualized growth rate slipped to 1.7 percent from 2.1 percent a week earlier.

The index comes after data released Friday showed plummeting consumer confidence but growth in retail sales, adding to the mix of economic uncertainty that has riled markets since the U.S. sovereign downgrade last week.