The Economic Cycle Research Institute’s weekly leading index of the U.S. economy rose to reading of 128.3 in the week ended July 29 from 127.6 in the previous week. The index’s growth rate was 2.1 percent in the week ended July 29, compared with a growth rate of 2.0 percent in the previous week.

The growth rate is based on a four-week moving average of the weekly leading index level, compared with the previous year’s moving average.