Two Regional Fed Reports Show Weakening

Chicago Federal Reserve National Activity Index (August 2012)

– Index Level was -0.87.  Previous was -0.12
– 3 Month Moving Average was -0.47

This data is weak showing declines in Industrial Production and Capacity Utilization and indicative of wear 3rdQ2012 GDP growth.

Dallas Federal Reserve Manufacturing Survey (September 2012)

– Business Activity Index was -0.9.  Previous was -1.6. 

This is a survey index of manufacturers in Texas.