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Chicago Fed National Activity Contracts for First Time in Five Months

October 25, 2021 by Forex Winner Leave a Comment

Chicago Fed National Activity Contracts for First Time in Five Months

Source: Chicago Fed

The Chicago Fed National Activity plunged to negative territory in September after four months of growth, dragged by production issues.

  • The Chicago Fed National Activity Index (CFNAI) fell to -0.13 in September after hitting +0.05 in August and +0.37 the same month last year.
  • The latest reading is the first contraction recorded in five months since the index stood at -0.12 in April.
  • Production-related indicators contributed -0.37 to the index, down from -0.08 the previous month. Industrial production slipped 1.3%.
  • Sales, orders, and inventories edged higher to +0.07 during the month from +0.01 in August, while employment indicators contributed +0.16.
  • The unemployment rate fell 0.4 percentage points after declining 0.2 percentage points in August, but nonfarm payrolls climbed 194,000.
  • The three-month moving average stood at +0.25, the weakest in five months since April’s +0.19.
  • The CFNAI Diffusion Index was recorded at +0.22, up from +0.20 in August but lower than +0.58 a year ago.

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