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WLI Growth at Two-Year High

U.S. economy seen recovering.

The Economic Cycle Research Institute's leading U.S. index rose 1.1 points in the week ended July 3 to 118.5 -- the highest since last Oct. -- on lower-than-expected jobless claims and better housing activity.

The index's annualized growth rate jumped 1.5 percentage points to a 2-year high of 5.4%.

"It is increasingly evident that, despite widespread misgivings based on backward-looking economic data, the end of recession is at hand," said ECRI Managing Director Lakshman Achuthan in a statement.

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