The Economic Cycle Research Institute's weekly leading index measuring the U.S. economy continued to improve, according to its most recent reading released today. "With [weekly leading index] growth rocketing to a new record high, the economic recovery will prove to be far more resilient in coming months than most believe possible," said Lakshman Achuthan, managing director of the institute.

The growth rate for the weekly leading index reached 26.1% in the week ended Oct. 2, and the index level rose to 128.3 from 127.1 in the prior period.

The growth rate is derived from a four-week moving average of the level and compared against the previous year's average.