Suppose the Federal Reserve Bank of Chicago\'s National Activity Index hovered a

Question

Suppose the Federal Reserve Bank of Chicago's National Activity Index hovered around +0.25 for a few months and then dropped to -1.5 in November. Which of the following is the best interpretation of this finding? The economy grew at a rate of 0.25% for a few months, but economic growth actually decreased by 1.5% in November. The rate of economic growth slowed in November, but the economy did not move into a recession. The economy was in an expansion in October but moved into a recession in November. Economic activity was above the historical trend rate of growth, but It Is likely that the economy moved into a recession in November.

Explanation / Answer

The economy grew at a rate of 0.25% for few months, but economic grwoth actually decresed by 1.5% in November.

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