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Index of US economy shows hardy recovery-report

Fri February 20, 2004 10:28 AM ET

NEW YORK, Feb 20 (Reuters) - A leading index of the U.S. economy ticked up in the latest week, helped by broadly positive signs showing resilience in the recovery, a report showed on Friday.

"The index remains in a solid up trend," said ECRI director of research Anirvan Banerji. "The bottom line this shows is the economy is resilient."

The Economic Cycle Research Institute, an independent forecasting group, said its weekly leading index (WLI) rose to 132.9 in the week ended Feb. 13, up from the preceding week's downwardly revised reading of 131.6.

All of the index's components registered gains except for the measure of the credit health of U.S. companies, which was down a bit from last week's three-year high.

The annualized growth rate, a four-week moving average that evens out weekly fluctuations, slipped to 10.5 percent from 11.0 percent.

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