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Economic news
22.04.2024

Chicago Fed National Activity Index rises to +0.15 in March

The Chicago Federal Reserve reported on Monday the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, came in at +0.15 in March, compared to an upwardly revised +0.09 (from +0.05) in February, pointing to an increase in economic growth in the previous month. This was the highest reading since November 2023 (+0.22).

Meanwhile, the index’s three-month moving average advanced to -0.19 in March from -0.28 in February.

According to the report, two of four broad categories of indicators of the CFNAI rose from March and two of them made positive contributions. 

The employment-related indicators contributed +0.04 to the headline indicator in March, up from -0.01 in the previous month, while the production-related indicators contributed +0.11, down from +0.13 in February. At the same time, the sales, orders, and inventories category made a neutral contribution to the CFNAI in March, up from -0.05 in February, and the personal consumption and housing category contributed -0.01, down from +0.02 in February.

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