• Chicago Fed Says US Growth Slowed in March

    Chicago Fed Reports US Growth Slowed in March

    The U.S. economy grew in March but that expansion slowed compared with prior months amid rising prices and other headwinds, according to a report from the Federal Reserve Bank of Chicago.

    The regional Fed’s monthly National Activity Index, designed to gauge economic activity based on factors such as production, income, employment and spending, came in at 0.44 in March, down from 0.54 in February, according to a Monday report.

    Anything above zero indicates growth is more than historical averages for rate of expansion in the national economy. Trailing indicators issued by other federal agencies have similarly signaled that the overall economy is growing but struggling to return to pre-pandemic levels.

    The Bureau of Economic Analysis reported that U.S. gross domestic product grew at an annual rate of 6.9% in the fourth quarter, a downgrade from a prior 7% estimate partly because of reduced personal spending.

    Source: www.CoStar.com