From the Chicago Fed: Index Points to Slower Economic Growth in May
Click on graph for larger image.
This suggests economic activity was above the historical trend in May (using the three-month average).
According to the Chicago Fed:
from Calculated Risk https://ift.tt/2lBt9md
via IFTTT
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to –0.15 in May from +0.42 in April. Two of the four broad categories of indicators that make up the index decreased from April, and two of the four categories made negative contributions to the index in May. The index’s three-month moving average, CFNAI-MA3, decreased to +0.18 in May from +0.48 in April.This graph shows the Chicago Fed National Activity Index (three month moving average) since 1967.
emphasis added
Click on graph for larger image.
This suggests economic activity was above the historical trend in May (using the three-month average).
According to the Chicago Fed:
The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories.
...
A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
from Calculated Risk https://ift.tt/2lBt9md
via IFTTT
Комментариев нет:
Отправить комментарий