Chicago Fed Index Narrows to -0.32

The Chicago Fed national activity index for November improved dramatically, rising to negative 0.32 from a revised negative 1.02 reading in October, originally reported as negative 1.08, the Federal Reserve Bank of Chicago reported yesterday.

Meanwhile, the three-month moving average improved to negative 0.77 in November, from October's revised negative 0.87 reading, initially reported as negative 0.91.

The production and income category of indicators contributed positive 0.35 to the index — compared to a contribution of negative 0.09 in the previous month — while employment-related indicators contributed negative 0.12 after providing a negative 0.42 in October, the Fed said.

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