Chicago-Area Economy Picks Up in July

Chicago, IL, Aug. 22, 2011 -- The Federal Reserve Bank of Chicago's national activity index improved to negative 0.06 in July from negative 0.38 in June.

The gain was led by improvements in production-related indicators.

A three-month average of the Chicago Fed's national index of economic activity rose to a negative 0.29 from negative 0.54 in June. The data show less risk of a recession.