THE ECONOMY.(TO THE POINT)

ECRI weekly U.S. index eases

Economic Cycle Research Institute's leading U.S. activity gauge slid 0.4 point to 130 in the week ended Dec. 26. The four-week annualized growth rate fell again, dropping to 9.7% from 10.4% the prior week. That ended a six-month string of double-digit growth, the longest such stretch since 1983-84.

** M2 money supply fell $20.3 bil to $6.0345 tril in the week ended Dec. 22, the Fed said. M3 fell $30.4 bil to $8.7980 tril. M1 fell $1.8 bil to $1.2882 tril.

** The Treasury Dept. wants to poll investor attitudes toward electronic savings bonds, part of a plan to scrap the current paper bonds.

European manufacturing picks up

Euro zone factory activity accelerated slightly in Dec., led by Germany. The Reuters' euro zone purchasers' index edged up 0.2 point to 52.4, the highest in nearly three years. Readings over 50 indicate growth. But the fourth straight rise was less that expected, as growth slowed in most countries due to weaker export gains. Firms cited the strong euro. Production and orders were strong, but European manufacturers ...