Chicago Fed National Activity Index points to a pickup in economic growth in October

Eren Sengezer FXStreet

"Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.65 in October from +0.36 in September," the Federal Reserve Bank of Chicago announced on Tuesday.

Key takeaways

The contribution from production-related indicators to the CFNAI rose to +0.53 in October from +0.18 in September.

Total industrial production increased 0.9 percent in October after moving up 0.4 percent in September.

Employment-related indicators contributed +0.11 to the CFNAI in October, down slightly from +0.13 in September.

Civilian employment decreased by 484,000 in October after increasing by 906,000 in September.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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