Chicago Fed National Activity Index falls in August

The Chicago Fed National Activity Index fell to -0.55 lin August from a revised 0.24 in July. The index also fell from a year earlier when it was at -0.33.  

“All four broad categories of indicators that make up the index decreased from July, and all four categories made negative contributions to the index in August”, said the Chicago Fed.

The index’s three-month moving average ticked up to –0.07 in August from –0.09 in July, suggesting that growth in national economic activity was slightly below its historical trend. “The economic growth reflected in this level of the CFNAI-MA3 suggests subdued inflationary pressure from economic activity over the coming year.”