Chicago Fed National Activity Index, January 2007

The Chicago Fed National Activity Index for January 2007, published 20 February, was -0.74 in January, down from +0.36 in December. The production and employment indicators showed the most significant change from the previous month, although all four broad categories of data made negative contributions.

The three-month moving average of the index, CFNAI-MA3, decreased from -0.19 in December to -0.29 in January, suggesting that growth in national economic activity continued to be below its

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