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- Chicago Fed National Activity Index decreases to 0.24 in April
Chicago Fed National Activity Index decreases to 0.24 in April
The Chicago Federal Reserve announced on Monday the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, came in at 0.24 in April, down from an unrevised 1.71 in March, pointing to a slower expansion in economic activity than in the previous month.
At
the same time, the index’s three-month moving average dropped to +0.07 in April
from +0.35 in March.
According
to the report, three of the four broad categories of indicators used to
construct the index made positive contributions in April, but three categories
deteriorated from March. Production-related indicators made a positive
contribution of +0.18 to the CFNAI in April, down from +0.92 in March. Employment-related
indicators contributed +0.05 to the CFNAI in April, down from +0.38 in the
previous month. The contribution of the sales, orders, and inventories category
to the CFNAI improved to +0.07 in April from -0.09 in March. Meanwhile, the
contribution of the personal consumption and housing category to the CFNAI worsened
to -0.06 in April from +0.50 in March.
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