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- Chicago Fed National Activity Index increases to 0.29 in May
Chicago Fed National Activity Index increases to 0.29 in May
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 0.29 in May, up from a revised -0.09 in April (originally 0.24), pointing to a pickup in economic expansion in the previous month.
At the same time, the index’s three-month moving average increased to +0.81 in May from +0.17 in April.
According
to the report, three of the four broad categories of indicators used to
construct the index made positive contributions in May, and three categories
improved from April. Production-related indicators made a positive contribution
of +0.29 to the CFNAI in May, up from -0.05 in April. Employment-related
indicators contributed +0.16to the CFNAI in May, up from +0.06 in the previous
month. The contribution of the sales, orders, and inventories category to the
CFNAI improved to +0.02 in May from -0.06 in April. Meanwhile, the contribution
of the personal consumption and housing category to the CFNAI worsened to -0.18
in May from -0.04 in April.
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