• Print
  • Email

Chicago Fed National Activity Index, December 2001
Economy Improves at Year's End
The Chicago Fed National Activity Index (CFNAI) improved in December, with the monthly index rising to –0.77 from a downward revised value of –1.29 in November. The December index represents the highest monthly reading since July 2001. The three-month moving average index, CFNAI-MA3, also improved in December, to –1.05 from November’s revised value of –1.44. Still, with the CFNAI-MA3 below –1.00, the index continues to be in a negative range that historically has been associated only with economic recessions. December marked the eighteenth consecutive month that the CFNAI-MA3 was below zero, an indication of how long the national economy has been growing below trend. Index values below zero signal reduced inflationary pressures over the coming year.
Having trouble accessing something on this page? Please send us an email and we will get back to you as quickly as we can.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2024. All rights reserved.

Please review our Privacy Policy | Legal Notices