Chicago Fed National Activity Index Plunges To 3-Year Lows

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U.S. economic activity slumped in April, according to the Federal Reserve Bank of Chicago. The Chicago Fed national activity index, which draws on 85 economic indicators, was -0.45 in April versus an upwardly revised +0.05 in March (and expectations of -0.20).

  • 33 of the 85 monthly individual indicators made positive contributions

  • 52 of the 85 monthly individual indicators made negative contributions

Smoothing the somewhat noisy indicator over the last three months, this is the weakest level of national economic activity since May 2016…

A reading below zero indicates below-trend-growth in the national economy and a sign of easing pressures on future inflation.

…more bad news is good news? More ammo for The Fed to stay lower for longer.


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