US Chicago Fed National Activity Index Jan: 0.66 (est 0.50; prevR 0.41; prev 0.52)

US Chicago Fed National Activity Index Jan: 0.66 (est 0.50; prevR 0.41; prev 0.52)



CFNAI beats again this month, although should be noted that Dec was revised down a bit and three of the four indicators showed decreasing gains from December.  This is one index that you have to look at the revisions because not all data is available as of the time of publication.  Still all four were up and the overall level was the highest since October and remains well above year-ago levels. I like this report because it's a national report that uses 85 different economic indicators in a lot of different areas.  The CFNAI was constructed using data available as of February 18, 2021. At that time, January data for 50 of the 85 indicators had been published. For all missing data, estimates were used in constructing the index

 Production-related indicators contributed +0.28, down from +0.37 in December. The contribution of the sales, orders, and inventories category to edged down to +0.02 in January from +0.05 in December.
Employment-related indicators contributed +0.01 in January, down slightly from +0.05 in December. Personal consumption and housing rose to +0.35 in January from –0.06 in December. 

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