U.S. Economic Growth Slowed in Turbulent April
By
Ed Frankl, Dow Jones Newswires
Economic growth in the U.S. slowed in April, according to a monthly index Thursday, a likely byproduct of increased market uncertainty from the Trump administration's trade policy launched at the start of the month.
The Chicago Fed's National Activity Index dropped to minus 0.25 in April from an upwardly revised positive reading of 0.03 in March. The reading below zero suggests growth was weaker than the long-term average.
The fall was driven by decreases in three of the four gauges used to compile the index: production-related indicators; sales, orders and inventories; and personal consumption and housing. Only employment-related indicators ticked higher.
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