US econ growth gauge still indicates slowdown - ECRI
NEW YORK, July 2 (Reuters) - A measure of future U.S.
economic growth fell slightly in the latest week, while its
annualized growth rate continued to decline, indicating the
economy is about to slow, a research group said on Friday.
TheEconomic Cycle Research Institute, a New York-based
independent forecasting group, said its Weekly Leading Index
slipped to 122.2 in the week ended June 25 from 122.9 the week
before.
The index's annualized growth rate fell to minus 7.7
percentfrom minus 6.9 percent the prior week.
That was its lowest level since May 22, 2009 when it stood
at minus 8.7 percent.
(Reporting by John Parry; Editing by Theodore d'Afflisio)
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Keywords: USA ECONOMY/ECRI