National Activity Index Decreases to Positive 0.21

The Chicago Fed National Activity Index for May fell to 0.21 from a revised 0.25 reading in April, while the three-month moving average improved to 0.28 in May from April’s revised 0.05 reading, the Federal Reserve Bank of Chicago reported yesterday.

The positive readings for the CFNAI-MA3 indicate national economic growth was above its historical trend and suggest limited inflationary pressure from economic activity in the coming year, the Chicago Fed said.

Meanwhile, the Chicago Fed Midwest manufacturing index jumped 1.7% in May to a seasonally adjusted level of 86.7 after the April report showed a revised 1.3% increase to 85.2, the bank said.

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