Ekonomické zprávy
25.10.2021

Chicago Fed National Activity Index drops to -0.13 in September

The Chicago Federal Reserve announced on Monday the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, came in at -0.13 in September, down from a revised +0.05 in August (originally +0.29), pointing to a contraction in economic activity in the previous month. That was the worst print since February.

At the same time, the index’s three-month moving average fell to +0.25 in September from +0.38 in August.

According to the report, one of the four broad categories of indicators used to construct the index made a negative contribution in September, and one category deteriorated from August. Production-related indicators made a negative contribution of -0.37 to the CFNAI in September, down from -0.08 in the previous month. Meanwhile, employment-related indicators contributed +0.16 to the index in September, up from +0.09 in August. The contribution of the sales, orders, and inventories category to the CFNAI improved to +0.07 in September from +0.01 in the previous month. The personal consumption and housing category contributed +0.02 to the CFNAI, unchanged from August.

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