Widget Image
Follow PPD Social Media
Follow Us:
Thursday, May 21, 2020
HomeNewsEconomyCFNAI Indicates Economic Growth Fell Sharply in March

CFNAI Indicates Economic Growth Fell Sharply in March

U.S. Economy. Import export business. Stacked cargo containers. Flag of the United States. 3D rendering. (Photo: AdobeStock)

Production- and Employment-Indicators Drove Down Chicago Fed National Activity Index (CFNAI)

U.S. Economy. Import export business. Stacked cargo containers. Flag of the United States. 3D rendering. (Photo: AdobeStock)
U.S. Economy. Import export business. Stacked cargo containers. Flag of the United States. 3D rendering. (Photo: AdobeStock)

Chicago, Ill. (PPD) — The Chicago Fed National Activity Index (CFNAI) fell to –4.19 in March from +0.06 in February, fueled by declines in production- and employment-related indicators.

All four broad categories of indicators used to construct the index made negative contributions in March, and three of the four categories decreased. The CFNAI-MA3 — the three-month moving average — fell to –1.47 in March from –0.20.

Following a period of economic expansion, an increasing likelihood of a recession has historically been associated with a CFNAI-MA3 value below –0.70.

The CFNAI Diffusion Index — also a three-month moving average — fell to –0.32 in March from –0.21. Eighteen (18) of the 85 individual indicators made positive contributions to the CFNAI in March, while 65 made negative contributions and two made neutral contributions.

Twenty-two (22) indicators improved in March, while 63 indicators deteriorated. Of the improved indicators, 9 made negative contributions.

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.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial