The Economic Cycle Research Institute's weekly leading index level measuring the U.S. economy fell to 132.6 for the week ended June 13 from the prior period's level of 132.9. Lower index levels indicate a slower economy. The index's growth rate, derived from a moving average, contracted 5.8% for the week, the same rate as last week.

"The weekly leading index fell for the fourth time in five weeks, and its smoothed growth rate, while unchanged, stayed solidly negative," said Lakshman Achuthan, managing director of the institute. "The unambiguous message is that the economy has not veered away from the recession track."