Chicago Fed: Recession risks rising

US - The risk that the U.S. economy is in a recession rose in June to its highest level this year, the Federal Reserve Bank of Chicago said on 2 August as it released its monthly index of U.S. economic activity.

However, the regional Fed bank said the recent bout of weakness differs from the five U.S. recessions that have gripped the country since 1967, largely due to stable consumer spending and strong housing activity.

The Chicago Fed said its monthly National Activity Index fell to -1.02 in