2017 Economic Calendar
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Chicago Fed National Activity Index  
Released On 4/24/2017 8:30:00 AM For Mar, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Level0.34 0.27 0.30 0.0  to 0.50 0.08 
3 Month Moving Average0.25 0.16 0.03 

Highlights
The 2 tenths fall in the March unemployment rate and surge in the month's utility output helped offset weak payroll growth and a sharp drop in manufacturing production to make for a slightly positive reading in the national activity index, at 0.08. Employment, on the back of the unemployment rate, contributed 0.02 to March's total with production also slightly positive, at 0.04. Sales, orders & inventories, underpined by great strength in the ISM new orders index, added 0.07 to March while personal consumption & housing pulled the headline down 0.05 as a sharp drop in housing starts offset a rise in permits. These results help confirm that March was a slow month for the economy and will be a weak contributor -- but perhaps still a positive contributor -- to first-quarter economic growth.

Recent History Of This Indicator
The national activity index continues to run just under historical trend with production the recent weak link and personal consumption & housing no help. Forecasters see the index, boosted in part by March's utility output, in the plus column at 0.3.

Definition
The Chicago Fed National Activity Index (CFNAI) is a monthly index that tracks overall economic activity and inflationary pressures. The CFNAI is a weighted average of 85 existing monthly indicators of national economic activity. It is constructed to have an average value of zero and a standard deviation of one. Since economic activity tends toward trend growth over time, a positive index reading corresponds to growth above trend and a negative index reading corresponds to growth below trend.  Why Investors Care
 
 

2017 Release Schedule
Released On: 1/262/233/204/245/226/267/278/219/2510/2311/2112/2112/21
Release For: DecJanFebMarAprMayJunJulAugSepOctNovNov
 


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