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Saturday, October 19, 2019
HomeNewsEconomyChicago Fed National Activity Index (CHNAI) Ticks Up, Nears Average for June

Chicago Fed National Activity Index (CHNAI) Ticks Up, Nears Average for June

U.S. economy on an American flag background waving in the wind, in 3D rendering. (Photo: AdobeStock)
U.S. economy on an American flag background waving in the wind, in 3D rendering. (Photo: AdobeStock)
U.S. economy on an American flag background waving in the wind, in 3D rendering. (Photo: AdobeStock)

The Chicago Fed National Activity Index (CFNAI) ticked up slightly to -0.02, near the average for June and ensuring a rate cut won’t lead to overheating. The three-month moving average (CFNAI-MA3) also ticked up to –0.26 from –0.27 in May.


PriorRevisedConsensus ForecastForecast RangeResults
CFNAI-0.05 -0.03 0.00 -0.30  to 0.10 -0.02 
CFNAI-MA3–0.17–0.27-0.26

Forty of the 85 indicators made positive contributions to the CFNAI, while 45 made negative contributions in June. Thirty-six indicators improved and 49 deteriorated. Of those that improved, 9 made negative contributions.

Production-related indicators were neutral contribution in June, down from +0.08 in May. Industrial production was flat, as utilities offset mining and manufacturing.

Employment-related indicators contributed +0.06 to the CFNAI in June, up from –0.08 in May. The Employment Situation (jobs report) for June reported the U.S. economy added a stronger than expected 224,000 jobs, bouncing back after a gain of 72,000 in the previous month.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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