ECRI Index Indicates Slowing Economy

From the Economic Cycle Research Institute.

A gauge of future U.S. economic growth rose in the latest week, while its yearly growth gauge hit a 30-week low, reaffirming projections that expansion will begin to ease in the summer months, 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 129.8 for the week ended Feb. 26 from 128.4 the prior week.

The annualized growth rate continued to fall, however, hitting a 30-week low of 13.7 percent from 14.9 percent in the previous week.

It was yearly growth's lowest reading since July 31, 2009 when it read 11.3 percent.

"The decline ... underscores our view that U.S. economic growth will start easing by mid-year," said ECRI Managing Director Lakshman Achuthan, reaffirming the group's recent forecasts of more moderate economic expansion come summer.

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