U.S. national activity index slows in MayStaff Writer |
America The Chicago Fed index slipped
A widely-followed gauge of U.S. economic activity turned lower in May, but remained above year-earlier levels.
That saw its three-month moving average slow from a reading of +0.48 in the month before to +0.18.
Production-related indicators accounted for the bulk of the move to the downside, contributing -0.29 points in May, versus +0.33 in April.
The contribution from personal consumption and housing was slightly more negative as well, with their contribution slipping from -0.03 to -0.04.
In the same month one year ago the, the activity index stood at -0.19, while the three-month moving average was at +0.10. ■
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