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- Chicago Fed national activity index points to a pickup in economic growth in June
Chicago Fed national activity index points to a pickup in economic growth in June
The Chicago Federal Reserve reported the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, rose to +0.13 in June from a revised -0.30 in May (originally +0.35), pointing to a pickup in economic growth in June. According to the report, three of the four broad categories made positive contributions to the index last month. The index's three-month moving average increased to +0.06 in June from -0.04 in May. The contribution from production-related indicators to the CFNAI increased to +0.09 in June from -0.16 in May. Employment-related indicators contributed +0.06 to the CFNAI in June, up from -0.15 in the previous month. The sales, orders, and inventories category made a contribution of +0.02 to the CFNAI in June, up slightly from a neutral contribution in May. Meanwhile, the contribution of the personal consumption and housing category to the index edged up to -0.04 last month from -0.09 in the prior month.
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