Yearly economic growth at a 27-week high

A weekly measure of US future economic growth remained unchanged, while its annualised growth rate rose to levels last seen in early October 2008, suggesting economic recovery for the near future, a research group said Friday. The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index was flat at 107.2 for the week ending April 17.
The index's annualised growth rate - continuing its six-month upswing - rose to negative 18.6 percent from the prior week's rate of negative 19.7 percent. It was the highest yearly growth reading since October 10, 2008, when the rate was minus 17.0 percent, according to ECRI data.