U.S. business-activity index surprises on the downside

04/30/2013 | Bloomberg

For the first time in three years, a key indicator of U.S. economic activity fell to a negative reading. The MNI Chicago Report business barometer eased to 49 in April, below the break-even mark of 50 and down from 52.4 in March. "We're starting to see some slowdown in manufacturing as budget cuts take effect," said economist Jennifer Lee at BMO Capital Markets.

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