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Chicago Fed National Activity Index suggests economic growth increased in March 2024
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The Chicago Fed National Activity Index (CFNAI) increased to +0.15 in March from +0.09 in February. Two of the four broad categories of indicators used to construct the index increased from February, and two categories made positive contributions in March. The index's three-month moving average, CFNAI-MA3, increased to –0.19 in March from –0.28 in February.
The CFNAI Diffusion Index, which is also a three-month moving average, increased to –0.06 in March from –0.16 in February. Fifty of the 85 individual indicators made positive contributions to the CFNAI in March, while 35 made negative contributions. Fifty indicators improved from February to March, while 35 indicators deteriorated. Of the indicators that improved, 16 made negative contributions.
Production-related indicators contributed +0.11 to the CFNAI in March, down from +0.13 in February.
The sales, orders, and inventories category made a neutral contribution to the CFNAI in March, up from –0.05 in February.
Employment-related indicators contributed +0.04 to the CFNAI in March, up from –0.01 in February.
The personal consumption and housing category's contribution to the CFNAI was –0.01 in March, down from +0.02 in February.
Posted: April 22, 2024 Monday 08:30 AM