Chicago Fed National Activity Index, December 2006

The Chicago Fed National Activity Index for December 2006, published 22 January, was +0.04 in December, up from -0.30 in November. Three of the four broad categories of indicators in the index made negative contributions.

The three-month moving average, CFNAI-MA3, increased from -0.36 in November to -0.19 in December. A CFNAI-MA3 reading below zero is associated with below-trend economic growth; accordingly, the CFNAI-MA3 value of -0.19 for December suggests that growth in national economic

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