Chicago Fed: Economic Activity Fell in August, but Midwest Manufacturing Gained Ground

Mixed data from the Federal Reserve Bank of Chicago this week:

On Tuesday, the Fed said its monthly economic activity index fell in August. Three of the four categories that comprise the index were negative, and it decreased to -0.43 after finishing positive at +0.02 in July.

Production-related indicators still finished August in positive territory at +0.01, but the rate fell significantly from July’s +0.26.

One day earlier, the Fed’s Midwest Manufacturing index increased 0.6 percent in August to a seasonally adjusted level of 85.0. Revised data showed the index had increased 0.3 percent in July. Regional output in August rose 7.6 percent year over year, and national output increased 4.2 percent.

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