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“Led by improvements in employment-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.24 in October from +0.14 in September,” the Federal Reserve Bank of Chicago reported on Monday.

Key takeaways from the press release

  • The CFNAI Diffusion Index, which is also a three-month moving average, increased to +0.32 in October from +0.24 in September.  
  • The contribution from production-related indicators to the CFNAI moved down to +0.06 in October from +0.09 in September.
  • Employment-related indicators contributed +0.19 to the CFNAI in October, up from +0.05 in September.  
  • The contribution of the personal consumption and housing category to the CFNAI ticked down to -0.05 in October from -0.04 in September.