NEW YORK - The Chicago Fed National Activity Index for October widened to negative 1.08 from a revised negative 1.01 reading in September, originally reported as negative 0.81.
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Meanwhile, the three-month moving average (CFNAI-MA3) decreased to negative 0.91 in October, declining for the first time this year, from September’s revised negative 0.67 reading, initially reported as negative 0.63, the Federal Reserve Bank of Chicago reported today.
October’s CFNAI-MA3 suggests that growth in national economic activity remained below its historical trend. With regard to inflation, the amount of economic slack reflected in the CFNAI-MA3 indicates low inflationary pressure from economic activity over the coming year.
