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U.S. economic growth gauge highest since 2010, annual rate rises

Construction workers are seen on the job building a shopping center complex in Solana Beach, California January 6, 2012. REUTERS/Mike Blake
Construction workers are seen on the job building a shopping center complex in Solana Beach, California January 6, 2012. REUTERS/Mike Blake

NEW YORK (Reuters) - A measure of future U.S. economic growth hit its highest level in more than three years last week and the annualized growth rate rebounded from a previous 39-week low, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 132.3 in the week ended September 6, up from 131.5. The reading was the highest since the week ending April 30, 2010.

The index's annualized growth rate rose to 4.1 percent after dipping to 3.9 percent the prior week, which was the lowest since November 30, 2012.

(Reporting By Steven C. Johnson; Editing by Chizu Nomiyama)

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