Research >> Economics
Chicago Fed National Activity Improved in February
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Led by gains in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.44 in February from –0.49 in January. All four broad categories of indicators that make up the index increased from January, and three of the four categories made positive contributions to the index in February.
The index’s three-month moving average, CFNAI-MA3, decreased to +0.09 in February from +0.28 in January, marking its fourth consecutive reading above zero. February’s CFNAI-MA3 suggests that growth in national economic activity was somewhat above its historical trend. The economic growth reflected in this level of the CFNAI-MA3 suggests limited inflationary pressure from economic activity over the coming year.
The CFNAI Diffusion Index ticked up to +0.14 in February from +0.13 in January. Fifty-eight of the 85 individual indicators made positive contributions to the CFNAI in February, while 27 made negative contributions. Sixty-four indicators improved from January to February, while 21 indicators deteriorated. Of the indicators that improved, 16 made negative contributions.
Posted: March 25, 2013 Monday 08:30 AM