2018 Economic Calendar
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Chicago Fed National Activity Index  
Released On 7/23/2018 8:30:00 AM For Jun, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Level-0.15 -0.45 0.23 0.10  to 0.40 0.43 
3 Month Moving Average0.18 0.10 0.16 

The big bounce back for industrial production, specifically manufacturing production, contributed 0.36 to June's 0.43 showing for June's national activity index. This is a very strong result that tops Econoday's consensus range. Other readings were steady in the month with employment contributing 0.08, sales, orders, and inventories contributing 0.06 with personal consumption and housing, pulled down by declines in housing starts and permits, at minus 0.06.

Revisions to previously released government data were the main factors behind a sharp downward revision to May, to minus 0.45 from an initial minus 0.15. In a partial offset, April is revised to 49 from 42. This index began to turn higher at the end of last year and continues, despite the drop in May, to post the best results of the ongoing expansion.

Consensus Outlook
A big jump in industrial production together with strength in employment should offset trouble in the housing sector, making for a plus 0.23 consensus in the national activity index for June, which would be up from minus 0.15 in May.

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

2018 Release Schedule
Released On: 1/222/263/264/235/216/257/238/279/2410/2211/2612/24
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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