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Economic Report: Chicago Fed national economic indicator helped by factory-sector snapback

The numbers: A measure of the U.S. economy from the Chicago Federal Reserve rebounded aggressively in June after a sharp downward revision to May’s already weak performance. A factory-sector rebound was the biggest help.

The Chicago Fed’s index of national economic activity registered at a positive 0.43 last month, the report out Monday showed. The reading follows a revised negative 0.45 in May, a figure deeper in the red than the negative 0.15 first reported.

The swings put added emphasis on following the index’s less-volatile, three-month moving average. It edged up to positive 0.16 in June, from a slightly downwardly revised positive 0.10 in May.

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