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- Chicago Fed National Activity Index climbs to 0.53 in July
Chicago Fed National Activity Index climbs to 0.53 in July
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 +0.53 in July, up from a revised -0.01
in June (originally +0.09), pointing to a pickup in economic growth in the previous
month. That was the highest reading since March.
At
the same time, the index’s three-month moving average rose +0.23 in July
from +0.01 in June.
According
to the report, three of the four broad categories of indicators used to
construct the index made positive contributions in July, and three categories
improved from June. Production-related indicators made a marginal positive
contribution of +0.38 to the CFNAI in July, up from -0.09 in June.
Employment-related indicators contributed +0.30 to the CFNAI in July, up from
+0.14 in the previous month. The contribution of the sales, orders, and
inventories category to the CFNAI improved to +0.02 in July from -0.06 in June.
Meanwhile, the personal consumption and housing category contributed -0.15 to
the CFNAI, down from +0.01 in June.
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