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View All NewsEconomic index's growth slips, level still high
The Economic Cycle Research Institute's weekly leading index measuring the U.S. economy still indicates improvement despite a decline in its growth rate.
The growth rate for the weekly leading index was 23.4% in the week ended Nov. 27, down from 24.2% in the prior period. However, the index level rose to 129.5 from 128.9.
"Though [weekly leading index] growth slipped to an 11-week low, the [weekly leading index] itself climbed to a 72-week high, consistent with increasing economic activity in the months ahead," said Lakshman Achuthan, managing director of the institute.
The growth rate is derived from a four-week moving average of the level and compared against the previous year's average. As a result, the growth rate and level can move in opposite directions.