The Chicago Fed National Activity Index for October narrowed to negative 0.13 from a revised negative 0.20 reading in September, while the three-month moving average (CFNAI-MA3) dropped to negative 0.27 in September, from October’s revised negative 0.16, the Federal Reserve Bank of Chicago reported Monday.

In October 2010, the index was negative 0.35 and the CFNAI-MA3 was negative 0.36.

The September index was originally reported as negative 0.22, while the September CFNAI-MA3 was first reported as negative 0.21.

The negative reading for the CFNAI-MA3 indicates national economic growth was below its historical trend, and suggests subdued inflationary pressure from economic activity in the coming year, the Chicago Fed said.

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