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A measure of future U.S. economic growth fell to a 35-week low in the latest week, indicating a slowing of the recovery, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index slumped to 127.3 for the week ended May 14 from 132.0 the previous week.
That was the lowest level since Sept. 11, 2009, when it stood at 127.0. The index’s annualized growth rate fell to a 43-week low of 9.0 percent from 12.2 percent a week ago. That’s the lowestlevel since July 17, 2009, when it stood at 8 percent.
“With WLI growth sinking further to a 43-week low, U.S. economic growth is set to start easing in fairly short order,” said Lakshman Achuthan, managing director of ECRI.
