U.S. economy weakened in August, Chicago Fed says - by Rex Nutting
The U.S. economy took a small step backwards in August on its road to recovery, according to a national index released Monday by the Chicago Federal Reserve Bank. The Chicago Fed's National Activity Index dropped back to negative 0.90 in August from an upwardly revised negative 0.54 in July. Only one of the four broad categories of indicators made a positive contribution in August. The production and income component was positive for the second straight month. Employment, consumption and housing, and sales made negative contributions
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