A measure of national economic activity improved in October but its less-volatile, three-month average weakened, according to the Chicago Federal Reserve on Monday—one sign that below-potential economic growth could limit Fed aggressiveness with interest-rate hikes, MarketWatch reported. The Chicago Fed national activity index rose to negative 0.08 in October from negative 0.23 in September as factory production, housing and consumer spending, as well as the business orders that make up the index mostly improved; employment had a neutral effect. The October reading still shows US economic growth running below its potential.
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