The Chicago Fed national activity index for April rebounded to positive 0.11 from a revised negative 0.44 reading in March, while the three-month moving average, or CFNAI-MA3, declined to negative 0.06 in April from a revised positive 0.02 in March, the bank reported Monday.

A year ago, the index was negative 0.84, while CFNAI-MA3 was negative 0.18.

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

The CFNAI diffusion index slipped to positive 0.10 from positive 0.19 the month before.

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