The Chicago Fed National Activity Index was -2.06 in April, up from -3.36 in March. All four broad categories of indicators improved in April, but each continued to make a negative contribution to the index.
The three-month moving average, CFNAI-MA3, increased to -2.65 in April from -3.29 in the previous month, improving for the third consecutive month. April’s CFNAI-MA3 suggests that growth in national economic activity was below its historical trend. With regard to inflation, it indicates low inflationary pressure from economic activity over the coming year.
The increase in the index was primarily due to the production and income category, which made a much smaller negative contribution of -0.35 to the index in April compared with -1.09 in March. Total …
Chicago Fed National Activity Index Edges Up In April
The Chicago Fed National Activity Index was -2.06 in April, up from -3.36 in March. All four broad categories of indicators improved in April, but each continued to make a negative contribution to the index.
The three-month moving average, CFNAI-MA3, increased to -2.65 in April from -3.29 in the previous month, improving for the third consecutive month. April’s CFNAI-MA3 suggests that growth in national economic activity was below its historical trend. With regard to inflation, it indicates low inflationary pressure from economic activity over the coming year.
The increase in the index was primarily due to the production and income category, which made a much smaller negative contribution of -0.35 to the index in April compared with -1.09 in March. Total …
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