Daily News

View All News

Economic index at highest level since May

October 08, 2010

The Economic Cycle Research Institute's weekly leading index of the U.S. economy rose to a level of 123.8 for the week ended Oct. 1. It was the highest reading since May.

The index's growth rate contracted at 7.0% in the week ended Oct. 1 compared with a contraction of 7.8% in the prior period. The level and growth rate can move in opposite directions because the growth rate is derived from a calculation that includes a four-week average of the weekly leading index level that is compared against the previous year's average.