30 October 2003, 18:17 Chicago Fed index turns positive in Sept
NEW YORK, Oct 30 - The Chicago Federal Reserve
Bank said on Thursday its gauge of the national economy turned
positive in September, helped by renewed strength in production
and a marked pickup in employment.
The Chicago Fed's National Activity Index rose to +0.20 in
September from a downwardly revised -0.40 reading in August.
"The positive value for the index in September reflected
renewed strength in the output-related data, a marked
improvement in the employment-related data, and continued
robust housing data," the Chicago Fed said.
The three-month moving average of the index also improved,
to +0.05 in September from -0.08 in August, the first positive
reading since June 2000.
Earlier on Thursday, the Commerce Department reported the
U.S. economy grew at a blistering 7.2 percent pace in the third
quarter.//
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