Latest Chicago Fed data shows economic improvement in September(Read article summary)
The Chicago Federal Reserve National Activity Index climbed from August 2012 to stand at a very weak 0.00 while the three month moving average remained very near contraction territory at -0.37.
The latest release of theÂ Chicago Federal Reserve National Activity Index (CFNAI)Â showed an improvement of the national economy with the index climbing from the prior month to stand at a very weak 0.00 while the three month moving average remained very near contraction territory at -0.37.Â
The CFNAI is a weighted average of 85 indicators of national economic activity collected into four overall categories of â€śproduction and incomeâ€ť, â€śemployment, unemployment and incomeâ€ť, â€śpersonal consumption and housingâ€ť and â€śsales, orders and inventoriesâ€ť.Â
The Chicago Fed regards a value of zero for the total index as indicating that the national economy is expanding at its historical trend rate while a negative value indicates below average growth.Â
A value at or below -0.70 for the three month moving average of the national activity index (CFNAI-MA3) indicates that the national economy has either just entered or continues in recession.Â