The Economic Cycle Research Institute said its Weekly Leading Index rose to a 32-week high of 113.5 for the week ending May 29 from 111.9 the previous week.
"With WLI growth climbing to its best reading since July, U.S. growth prospects are rapidly reviving," said Lakshman Achuthan, managing director at ECRI.
The weekly index rose in the latest week due to favorable moves in housing activity and stock prices, Achuthan said.
Now the question becomes one of how long the party will last before a collapsing bond market and climbing inflation kick in.
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