The Chicago Fed National Activity Index for April improved to positive 0.29 from a revised positive 0.13 reading in March, originally reported as negative 0.07.
Meanwhile, the three-month moving average, CFNAI-MA3, improved to negative 0.03 in April from March’s revised negative 0.09 reading, initially reported as negative 0.18, the Federal Reserve Bank of Chicago reported yesterday.
The positive 0.29 reading was the national activity index’s best level since December 2006 and the third positive reading in the past four months.
In April 2009, the index was negative 2.12, while the CFNAI-MA3 was negative 2.65.
The near-zero reading for the CFNAI-MA3 indicates that national economic growth is near its historical trend, and suggests subdued inflationary pressure from economic activity in the coming year, the Chicago Fed said.
