Chicago Fed national activity index for July.
- Chicago Fed national activity index fell -0.36 versus 0.00 estimate.
- Last month 0.03 revived higher from -0.02
- all four broad categories of indicators decreased from June and all four categories made negative contributions to the index in July
- production contributed -0.25, down from +0.09 in June
- employment indicators contributed -0.01 versus 0.0 in June
- personal consumption housing contributed -0.06 in July versus -0.05 in June
- sales orders and inventories contributed -0.05 in July versus -0.01 in June
- The prior months revision took the index above the 0.00 level for the first time since November 2018, but this months fall is more toward the middle of the range in 2019.
- The index that are positive has been associated with national economic expanding edits historical trend rate of growth. Negative values represent below average growth.
- The low for 2019 was in April at -0.73. The high was last month at +0.03.
The Chicago Fed national activity index is a monthly index designed to gauge overall economic activity and inflationary pressure. The index is eight weighted average of 85 indicators of national economic activity drawn from four categories including
- production and income,
- employment, unemployment, hours worked
- personal consumption housing
- sales, orders, and inventories
