SUV parts are fabricated in the stamping facility at the General Motors Assembly Plant on June 9, 2015. (Photo: Reuters)
The Chicago Fed National Activity Index (CFNAI) was –0.01 in July from +0.16, as manufacturing and housing permits surprisingly weighed down solid economic growth. The Econoday forecast called for a reading from -0.13 to 0.25, with a consensus forecast of 0.22.
Three of the four broad categories of indicators that make up the index decreased from June, and three of the four categories made negative contributions to the index in July.
The index’s three-month moving average, CFNAI-MA3, moved down to –0.05 in July from +0.09 in June.
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