18 03 2014

Economic growth gauge rises to highest since April 2010: ECRI

A measure of future U.S. economic growth strengthened last week to its highest level in three and a half years, while the annualized growth rate ticked higher, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said that in the week ended November 29 its Weekly Leading Index rose to 132.8, its highest since April 2010, from a revised 132.3 the previous week. That was originally reported as 132.5.

 The index's annualized growth rate increased to 2.9 percent, its highest since early October, from a revised 2.6 percent a week earlier. The growth rate was originally reported at 2.7 percent.