Increase in economic activity not enough to spur inflation, Chicago Fed says
U.S. economic activity edged up in October, led by improvements in production-related indicators, but was anemic enough to indicate that economic activity would have little affect on inflation in the next year, according to the Federal Reserve Bank of Chicago. Industrial production rose 0.7 percent in October after ticking down 0.1 percent in the previous month. Manufacturing production rose 0.5 percent last month after increasing 0.3 percent in September, the Chicago Fed said.
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