Summary:
Note: This is a composite index of other data.From the Chicago Fed: Index Suggests Economic Growth Increased in OctoberLed by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.83 in October from +0.32 in September. Three of the four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September. The index’s three-month moving average, CFNAI-MA3, fell to +0.75 in October from +1.37 in September.emphasis addedThis graph from the Chicago Fed shows the Chicago Fed National Activity Index by category. Click on graph for larger image.According to the Chicago Fed:The index is a weighted average of 85 indicators of growth in national economic
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Note: This is a composite index of other data.Note: This is a composite index of other data.From the Chicago Fed: Index Suggests Economic Growth Increased in OctoberLed by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.83 in October from +0.32 in September. Three of the four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September. The index’s three-month moving average, CFNAI-MA3, fell to +0.75 in October from +1.37 in September.emphasis addedThis graph from the Chicago Fed shows the Chicago Fed National Activity Index by category. Click on graph for larger image.According to the Chicago Fed:The index is a weighted average of 85 indicators of growth in national economic
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Calculated Risk considers the following as important:
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From the Chicago Fed: Index Suggests Economic Growth Increased in October
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.83 in October from +0.32 in September. Three of the four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September. The index’s three-month moving average, CFNAI-MA3, fell to +0.75 in October from +1.37 in September.This graph from the Chicago Fed shows the Chicago Fed National Activity Index by category.
emphasis added
Click on graph for larger image.According to the Chicago Fed:
The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories.
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A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.