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Chicago Fed National Activity Index declines in October

FXStreet (London) - The Chicago Fed National Activity Index (CFNAI) declined to +0.14 in October from +0.29 in September.

Two of the four broad categories of indicators that make up the index decreased from September, and two of the four categories made negative contributions to the index in October.

The Chicago Fed reported that production-related indicators made a negative contribution of 0.01 to the index, after a 0.18 contribution in September. Industrial production decreased 0.1 in October after adding 0.8 in September. Manufacturing production added 0.2 percent in October, matching September’s gains.

According to the release, the index’s three-month moving average, CFNAI-MA3, declined to –0.01 in October from +0.12 in September. October’s CFNAI-MA3 suggests that growth in national economic activity was near its historical trend. The economic growth reflected in this level of the CFNAI-MA3 suggests limited inflationary pressure from economic activity over the coming year.

United States Chicago Fed National Activity Index dipped from previous 0.29 to 0.14 in October

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