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US economic growth lost momentum in June, Chicago Fed says
The Chicago Fed National Activity Index fell to 0.09 in June
U.S. economic growth faltered slightly in June compared with the previous month, according to new data released Thursday by the Federal Reserve Bank of Chicago.
The Chicago Fed National Activity Index, which measures overall economic activity and related inflationary pressure, fell to 0.09 in June from 0.26 in May. The index is comprised of 85 economic indicators drawn from four broad categories of data: production and income; employment, unemployment and hours; personal consumption and housing; and sales, orders and inventories.
In June, 40 of the 85 individual indicators deteriorated from May, while 45 made positive contributions to the index last month, the Chicago Fed said in a news release.
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The contribution of the employment, unemployment and hours category to the index dropped to 0.09 in June from 0.15 in May. Although employment rose by 850,000 jobs in June, the jobless rate ticked up to 5.9% last month, partially …
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