Economy
Chicago Fed Shows National Economic Activity Marginally Positive in April
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The Chicago Fed National Activity Index (CFNAI) rose to +0.10 in April, up from a reading of –0.55 in March. The gains were tied to production-related indicators, but the Chicago Fed said that all four of the broad categories of indicators that make up the index increased from March. That being said, three of the four categories made what are called non-positive contributions (meaning they were still negative) to the index in April.
Economists and investors know that this is a national economic reading, despite being compiled by a regional Fed branch. Also, we are already getting other economic reports from May when this report covers April.
Additional data inside the report was shown as follows:
What this index measures: The CFNAI is a weighted average of 85 existing monthly indicators of national economic activity. It is constructed to have an average value of zero (and also to have a standard deviation of one). A positive index reading corresponds to growth above trend, while an index reading that is negative will correspond to growth below trend.
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