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Little Risk of Renewed Recession This Year

A measure of future U.S. economic growth rose to a more than two-year high in the latest week, bolstering expectations that the recovery is intact, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 134.7 for the week ended April 30 from from 133.6 the prior week, originally reported as 133.7.

That was the highest level since Jan 18, 2008, when it stood at 135.0.

The index's annualized growth rate rose to a four-week high of 12.7 percent from 12.3 percent a week ago, originally reported as 12.4 percent.

"With the forward-looking WLI rising to its best reading since January 2008, there is little risk of renewed recession this year," said Lakshman Achuthan, managing director of ECRI.

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