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A measure of future U.S. economic growth dipped in the latest week, while the annualized growth rate fell to its lowest level in more than a year, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index edged down to 120.2 in the week ended Oct 7 from a revised 120.5 the previous week. That was originally reported as 121.2.
The index's annualized growth rate sagged to minus 9.6 percent from minus 8.7 percent a week earlier. It was the lowest level since early September 2010.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index edged down to 120.2 in the week ended Oct 7 from a revised 120.5 the previous week. That was originally reported as 121.2.
The index's annualized growth rate sagged to minus 9.6 percent from minus 8.7 percent a week earlier. It was the lowest level since early September 2010.