The Chicago Fed National Activity Index was a reading of -0.15 in July, the Chicago Fed reports this morning. This is a slight improvement from June, but only because June’s reading was revised down to -0.23.
The below 0 reading indicates that economic activity is below its historical trend, and has been so for 5 consecutive months now.
38 of the 85 individual indicators made positive contributions to the CFNAI in July, while 47 made negative contributions. 53 indicators improved from June to July, while 32 indicators deteriorated. Of the indicators that improved, 21 made negative contributions.
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