Chicago Fed index shows weakening economy
An index used by the Chicago Federal Reserve that measures national economic activity declined in August to stand at a very weak -0.87.
This chart shows the Chicago Fed National Activity Index since 2001. The index is a weighted average of 85 indicators of national economic activity
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The latest release of the聽Chicago Federal Reserve National Activity (CFNAI)聽showed a worsening of the national economy with the index declining from the prior month to stand at a very weak -0.87 while the three month moving average also declined near contraction territory at -0.47.聽
The CFNAI is a weighted average of 85 indicators of national economic activity collected into four overall categories of 鈥減roduction and income鈥�, 鈥渆mployment, unemployment and income鈥�, 鈥減ersonal consumption and housing鈥� and 鈥渟ales, orders and inventories鈥�.聽
The Chicago Fed regards a value of zero for the total index as indicating that the national economy is expanding at its historical trend rate while a negative value indicates below average growth.聽
A value at or below -0.70 for the three month moving average of the national activity index (CFNAI-MA3) indicates that the national economy has either just entered or continues in recession.聽