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Chicago Fed: US economic activity increased in July

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Chicago Fed: US economic activity increased in July

Production-related factors drive improvement.

A key economic monitor produced by the Federal Reserve Bank of Chicago indicated that US economic activity continues to increase.

The Chicago Fed’s National Activity Index, which is comprised of a weighted average of 85 indicators of national economic activity, rose to 0.39 in July, up from 0.21 in June. This indicates that the economy continues to accelerate at a pace faster than its historical norm.

The index’s three-month moving average, increased to 0.25 in July from 0.16 in June, marking its fifth consecutive reading above zero. The economic growth reflected in this level of the suggests limited inflationary pressure from economic activity over the coming year.

One concern noted in the report is the decrease in employment-related indicators, which fell from 0.26 in June to 0.13 in July.

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