Economic activity slows but holds firm
A monthly index measuring overall economic activity showed more weakness last month, though the U.S. financial system still appears resilient, economists say.
The Chicago Fed National Activity Index fell to –0.03 in March from 0.24 in February, according to a report from the Federal Reserve Bank of Chicago.
The index is a weighted average of 85 monthly indicators taken from four categories: production and income; employment, unemployment and hours; housing and personal consumption; and sales, orders and inventories, the bank said. It was the index's fourth decline in the past five months.
A separate economic measure, the national Conference Board Leading Economic Index, indicated slower growth, Still, it did not reveal the U.S. is in a recession or near one.
"Overall, continued uncertainty remains a theme across the economy at large, but it has yet to significantly affect much of the hard economic data thus far," Wells Fargo said in a report Friday.
Death not as daunting as money woes, study finds
Economic uncertainty, including housing costs, is causing more anxiety about money than death, a survey shows.
Roughly two-thirds of respondents say they're worried about not having enough money rather than the loss of life, according to a retirement study by a group linked to the Allianz Life Insurance Co. of North America.
Respondents most often cited high inflation, Social Security falling short and high taxes as reasons why they could run out of cash. Allianz surveyed 1,000 respondents ages 25 and older.
“With Americans living longer in retirement and facing risks like market volatility, creating a financial strategy so that your money lasts your lifetime is a daunting task,” said Kelly LaVigne, an Allianz Life vice president, said in a statement.
Housing debt was among the most common impediments to saving for retirement, the survey showed. The others were day-to-day expenses and credit card debt.