Research >> Economics
Chicago Fed National Activity Index improved in September
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Led by improvements in employment-related indicators, the Chicago Fed National Activity Index increased to –0.22 in September from –0.59 in August. Contributions from all four broad categories of indicators that make up the index improved from August. However, three of the four were only slightly positive in September.
The index’s three-month moving average, CFNAI-MA3, edged up to –0.21 in September from –0.28 in August, but remained negative for the sixth consecutive month. September’s CFNAI-MA3 suggests that growth in national economic activity was below its historical trend. Likewise, the economic slack reflected in this level of the CFNAI-MA3 suggests subdued inflationary pressure from economic activity over the coming year.
Employment-related indicators contributed +0.04 to the index in September, an increase from –0.12 in August. Civilian employment rose 0.3 percent in September after an increase of 0.2 percent in the prior month. However, the unemployment rate was unchanged at 9.1 percent in September.
Posted: October 24, 2011 Monday 08:30 AM