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- Chicago Fed National Activity Index decreases to 0.09 in June
Chicago Fed National Activity Index decreases to 0.09 in June
The Chicago Federal Reserve announced on Thursday the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, came in at +0.09 in June, down from a revised +0.26 in May (originally +0.29), pointing to a moderation in economic growth in the previous month.
At
the same time, the index’s three-month moving average fell to +0.06 in June
from +0.80 in May.
According
to the report, three of the four broad categories of indicators used to
construct the index made positive contributions in June, but two categories
deteriorated from May. Production-related indicators made a marginal positive
contribution of +0.01 to the CFNAI in June, down from +0.26 in May. Employment-related
indicators contributed +0.09 to the CFNAI in June, down from +0.15 in the
previous month. The contribution of the sales, orders and inventories category
to the CFNAI improved to +0.06 in June from -0.04 in May. Elsewhere, the
personal consumption and housing category contributed -0.08 to the CFNAI, up from -0.11 in May.
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