×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Chicago | Fed | us | economy

Gauge of Economic Activity Falls Due to Japan Quake

Monday, 23 May 2011 10:29 AM EDT

A gauge of U.S. economic activity fell in April as the Japanese earthquake hurt auto production.

The Federal Reserve Bank of Chicago says its index was minus 0.45 in April in contrast to a positive reading of 0.32 in March. It was the weakest reading since August.

A reading below zero indicates below-trend growth in the national economy. Economists say normal growth is around a 3 percent pace.

Factories produced less in April, a main reason for the decline. A parts shortage stemming from the March 11 Japanese earthquake forced automakers to cut back output.

Economists say the supply disruptions will most likely be temporary. They also say U.S. companies are likely to be benefit once the Japanese rebuilding effort is under way. Economists say U.S. manufacturers are likely to fill orders related to those efforts.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
A gauge of U.S. economic activity fell in April as the Japanese earthquake hurt auto production.The Federal Reserve Bank of Chicago says its index was minus 0.45 in April in contrast to a positive reading of 0.32 in March. It was the weakest reading since August.A reading...
Chicago,Fed,us,economy
136
2011-29-23
Monday, 23 May 2011 10:29 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved