Chicago Fed National Activity Index climbs to 0.27 in July

The Chicago Fed National Activity Index climbed to 0.27 in July from a revised 0.05 in June and above the 0.2 expected. From a year earlier, the index is down from 0.34.     

Readings at 0 suggest the US economy is growing at its long-run trend level, while negative prints indicate below-average growth. The -0.70 mark signals recession risk while moves above +0.70 more than two years into an economic expansion, there is an increasing likelihood that a period of sustained increasing inflation has begun.