July 20, 2012 / 2:14 PM / 6 years ago

Economic growth gauge drops in latest week: ECRI

NEW YORK (Reuters) - A measure of future U.S. economic growth fell in the latest week, while the annualized growth rate rose, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell to 121.9 in the week ended July 13 from 122.9 the previous week. That was originally reported as 123.2.

The index’s annualized growth rate rose to -2.3 percent from -2.7 percent a week earlier. That was originally reported as -2.2 percent.

Reporting by Anna Louie Sussman; Editing by Chizu Nomiyama

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