National economic growth was below average in February
The Federal Reserve Bank of Chicago said today that its index of national economic activity dropped to -0.11 in February from -0.10 in January. Two of the four broad categories of indicators that make up the index decreased from January, and two of the four categories made negative contributions to the index in February. The index’s three-month moving average declined to -0.08 in February from 0.26 in January, suggesting that economic growth in February was below its historical trend, according to a release.
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