Chicago Fed national activity index drops in Aug

US - The Federal Reserve Bank of Chicago said on Monday its National Activity Index fell in August to its lowest level since December 2001, dragged down by weakness in production and employment data.

The index fell to minus 0.44 in August from an upwardly revised minus -0.04 in July, Reuters reported.

The three-month moving average index, which smooths out month-to-month fluctuations, fell to minus 0.13 in August from an upwardly revised 0.03 in July.

The Chicago Fed said although readings on the

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