U.S. Economy Picked Up In September, Chicago Fed Index Shows

The U.S. economy grew at an above-trend pace in September, recovering after a slower August, according to a report released Thursday. The Chicago Fed's national activity index rose to positive 0.47 from negative 0.25 in August. The three-month average stayed positive and accelerated, to 0.25 from 0.16 in August. The Chicago Fed said the reading suggests activity above historical trend but limited inflationary pressure over the next year. The index, a weighted average of 85 different economic indicators, is designed so that readings above zero indicate above-trend growth.