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Economic gauge contracts

December 21 2007
The growth rate for the Economic Cycle Research Institute's forward-looking gauge of the U.S. economy for the week ended Dec. 14 contracted 4.8%. ECRI's weekly leading index level fell to 136.2 from 137.9 in the prior period.

The growth rate and level can move in opposite directions because the index level measures weekly changes while the growth rate is derived from a four-week moving average.

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