Chicago Fed: National economic activity slowed in January

The Chicago Fed reported that its National Activity Index showed economic growth slowed in January due to declines in production-related areas. However, the agency reported that the national economy has been growing over the past several months.

  • close
    According to the Chicago Fed, its national activity index decreased to -0.39 in January from -0.03 in December.
    View Caption
  • About video ads
    View Caption

The latest release of the Chicago Federal Reserve National Activity Index (CFNAI) indicated that the national economic activity worsened in January with the index falling to a very weak level of -0.39 from a level of -0.03 in December while the three month moving average declined to a level of -0.10.

The CFNAI is a weighted average of 85 indicators of national economic activity collected into four overall categories of “production and income”, “employment, unemployment and income”, “personal consumption and housing” and “sales, orders and inventories”.

The Chicago Fed regards a value of zero for the total index as indicating that the national economy is expanding at its historical trend rate while a negative value indicates below average growth.

A value at or below -0.70 for the three month moving average of the national activity index (CFNAI-MA3) indicates that the national economy has either just entered or continues in recession.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on


We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.