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20.05.2013, 13:02

Chicago national activity index falls to -0.53 in April

 A decline in U.S. industrial production during April sent a closely watched barometer of the economy to its lowest level since January.

The Federal Reserve Bank of Chicago on Monday said its National Activity Index fell to -0.53 in April from -0.23 in March, with three of its four constituent parts registering sequential declines.

Production-related indicators were the main laggards as their contribution fell to -0.34 in April from -0.04 in March. Consumption and housing fell to -0.17 from -0.15 as home starts dropped to 853,000 units in April from 1,021,000 in March, even though housing permits rose slightly.

Sales, orders and inventories were up slightly, but still in negative territory at -0.01 from -0.04. Employment-related indicators were neutral at zero, down from 0.01 in March.

Of the 85 individual indicators included in the compendium index, 44 improved in April while 41 declined. Of those that improved, 18 still remained in negative territory.

The more representative three-month moving average ticked up slightly to -0.04 up from -0.05 in March, indicating expansion close to the historical trend and low inflationary pressures. Last year at this time, the monthly average was -0.13.

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