A measure of future U.S. economic growth rose to an eight-week high in the latest week, while the annualized growth rate also improved, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index inched up to 122.3 in the week ended Nov 4 from 122.1 the week before.

The index's annualized growth rate gained to minus 8.5 percent from minus 9.4 percent a week earlier.