NEW YORK, Sept 14 (Reuters) - A weekly gauge of future U.S. economic growth edged up due to higher stock prices, lower interest rates and stronger housing activity but annualized growth hit its lowest since last October, a research group said on Friday.
The Economic Cycle Research Institute, an independent forecasting group, said its Weekly Leading Index edged up to 140.6 in the week ended Sept. 7 from 140.5 in the prior week, revised up a fraction from 140.4. The slight growth was partly offset by higher jobless claims. ECRI data showed the annualized growth rate in the index slumped to 0.1 percent from 0.6 percent in the prior week.
"With seven weeks of decline in WLI growth taking it to a 45-week low, economic growth prospects continue to fade, but this has yet to become a recessionary downturn," said Lakshman Achuthan, managing director at ECRI.
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Thanks for the update Lakshman.
To others, we have a facebook discussion group to discuss ECRI's data where you can post your questions to Lakshman.
Request Invitation to facebook discussion group.
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