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Economic gauge contracts

October 26 2007

The Economic Cycle Research Institute's forward-looking gauge of the U.S. economy for the week ended Oct. 18 contracted 0.5%. The leading index level was 139.7, down from 140.1 in the prior week. ECRI's weekly leading index was held down by lower stock prices and housing activity, partly offset by lower interest rates.

"After plunging in August, (weekly leading index) growth has flattened out, suggesting that while economic growth will indeed slow, a recession is not likely," said Lakshman Achuthan, managing director of the Economic Cycle Research Institute.


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