Chicago Fed national activity index slips to -0.08 in July

(Sharecast News) - The Chicago Federal Reserve's national activity index pointed to a further cooling in US economic growth in July, with the headline index slipping to -0.08 from +0.06 in June as most underlying indicators weakened. Three of the four broad categories deteriorated on the month, and two posted negative contributions, while the three‑month moving average eased to -0.04 from +0.01, signalling activity running modestly below trend.

The diffusion index also softened, dropping to +0.05 from +0.09, with 40 of 85 indicators making positive contributions and 45 negative.

Production added +0.01, down from +0.04, and sales, orders and inventories contributed +0.02, also easing from +0.04, while employment was a mild offset, improving to -0.01 from -0.05, and personal consumption and housing weakened sharply, swinging to -0.09 from +0.04.









Reporting by Iain Gilbert at Sharecast.com