US economy slowed down further in March, Chicago Fed index shows

Economic activity Stateside slowed down further in March, according to a widely followed gauge.

The Federal Reserve bank of Chicago’s national activity index fell from -0.44 in February to a reading of -0.38 last month, with the three-month moving average which is meant to smooth out the monthly fluctuations slipping from -0.11 to -0.18.

March’s reading for the moving average was consistent with growth in the national economy somewhat below its historical trend, alongside subdued inflationary pressure from economic activity over the coming year, the Chicago Fed said in a statement.

All four categories of indicators – comprising 85 in total – made negative contributions to the CFNAI in March, including those related to production and income, employment, personal consumption and housing and sales, orders and inventories.