The Chicago Fed national activity index for September declined to negative 0.58 from a revised negative 0.49 reading in August. Meanwhile, the three-month moving average slipped to negative 0.33 in September from August’s revised negative 0.32 reading, the Federal Reserve Bank of Chicago reported Monday.
The negative readings indicate national economic growth was below its historical trend, and suggest subdued inflationary pressure from economic activity in the coming year, the Chicago Fed said.
