Economic growth gauge rises to two week high: ECRI
NEW YORK (Reuters) - A measure of future U.S. economic growth rose to a 2-week high in the latest week even as the annualized growth rate decreased to an 8-week low, a research group said on Wednesday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 125.7 in the week ended November 16 from 125.2 the previous week. That was its highest since November 2.
The previous week's number was originally reported as 125.4.
The index's annualized growth rate, however, fell to 3.8 percent from 4.3 percent a week earlier. It hit its lowest since September 21.
(Reporting By Edward Krudy; Editing by Theodore d'Afflisio)
- Tweet this
- Share this
- Digg this
- Pistorius starts five-year term for killing Reeva Steenkamp
- Govt orders Financial Tech to absorb NSEL, liabilities
- Exclusive: Iran offers "compromises" in nuclear talks, West unmoved
- UPDATE 10-Total CEO de Margerie killed in Moscow as jet hits snow plough
- Indiana police charge suspect who may have killed for decades
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article