• Print
  • Email

Chicago Fed National Activity Index, August 2004
CFNAI Points to Above-Trend Economic Growth in July
The Chicago Fed National Activity index rose to +0.35 in July from a downward-revised reading of –0.19 the previous month. Of the four broad categories of indicators, only the employment-related category made a negative contribution to the CFNAI in July, and it was small. The three-month moving average, CFNAI-MA3, edged down to +0.25 in July from a downward-revised +0.27 in June. CFNAI-MA3 readings above zero are associated with above-trend economic growth; accordingly, the CFNAI-MA3 value of +0.25 in July suggests that growth in national economic activity was above its historical trend for the eleventh straight month. With regard to inflation, CFNAI-MA3 values above zero suggest increased 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 © 2023. All rights reserved.

Please review our Privacy Policy | Legal Notices