Chicago Fed: National Activity Index points to growth near historical trend in July

Eren Sengezer FXStreet

"The Chicago Fed National Activity Index (CFNAI) moved down to –0.01 in July from +0.16 in June," the Federal Reserve Bank of Chicago said on Monday.

Key quotes:

Three of the four broad categories of indicators that make up the index decreased from June
Three of the four categories made negative contributions to the index in July
The contribution from production-related indicators to the CFNAI decreased to –0.02 in July from +0.03 in June
Employment-related indicators contributed +0.09 to the CFNAI in July, down from +0.13 in June
Nonfarm payroll employment increased by 209,000 in July after rising by 231,000 in June
The contribution of the personal consumption and housing category to the CFNAI edged up to –0.06 in July from –0.07 in June

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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