Economic activity up - Chicago Fed

The National Activity Index for the United States, published today by the Federal Reserve Bank of Chicago, was 0.11 in June compared with -0.32 in May.

The latest reading means that the three-month moving average of the index was up slightly to -0.15. Charles Evans, the research director of the Chicago Fed, said that the fact that the index remained below zero suggested "some easing of resource pressure on inflation."

Production related indicators had the biggest positive impact in June, as in

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