Recent Updates
- China: IP Press (Dec)
- Australia: Lending Finance (Nov)
- Thailand: Bangkok Property Transferred (Nov)
- UK: Rightmove House Price Index Press (Jan), LSL ACAD House Price Indexes (Dec)
- Japan: Government Bond Trading Volume by Category of Investors (Dec)
- Korea: First 20 Days of Trade, Trade by Commodity (Dec)
- Hong Kong: Centa City Index (Nov)
- more updates...
Economy in Brief
Delay in Release
of Data for Construction, MSIO, Intl Trade, Wholesale Trade, Monthly Treasury, Retail Sales, Business Sales & Inventories, and Housing Starts Due to Lapse in Federal Government Funding.
U.K. Retail Sales Begin to Lose Momentum
U.K. retail sales fell by a sharp 1% in December...
Philadelphia Fed Manufacturing Index Rebounds; Pricing Pressure Eases
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index increased to 17.0 during January...
U.S. Initial Unemployment Insurance Claims Slip
Initial claims for jobless insurance eased to 213,000 (-2.6% y/y) during the week ended January 12...
Passenger Car Registrations Hold to Low Ground in Europe
Passenger car registrations in Europe fell on a year-over-year comparison for the fourth consecutive months in December...
by Tom Moeller April 21, 2005
The National Activity Index (CFNAI) compiled by the Federal Reserve Bank of Chicago fell to 0.11 in March, the lowest level since last September.A zero value of the CFNAI indicates that the economy is expanding at its historical trend rate of growth.
The decline lowered the three-month moving average of the CFNAI to 0.17, its lowest since November.
The CFNAI is a weighted average of 85 indicators of economic activity. The indicators reflect activity in the following categories: production and income, the labor market, personal consumption and housing, manufacturing and trade sales, and inventories & orders.
During the last twenty years there has been a 74% correlation between the level of the CFNAI and q/q growth in real GDP.
The latest CFNAI report is available here.
The latest Beige Book covering regional economic activity from the Federal Reserve Board is available here.
| Chicago Fed | Mar | Feb | Mar '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| CFNAI | 0.11 | 0.22 | 0.67 | 0.39 | -0.11 | -0.40 |
