Chicago Fed National Activity Index Heats Up in December

The Federal Reserve Bank of Chicago. (Photo: AP)

The Chicago Fed National Activity Index (CFNAI) indicated stronger-than-expect growth in December, gaining 0.27 in December from a revised 0.11 in November. That slightly beats the already elevated 0.25 consensus forecast.

Two of the four broad categories of indicators increased from November, and three of the four categories made positive contributions to the index. The CFNAI-MA3, the index’s three-month moving average, ticked down slightly to 0.42 in December from 0.43 in November.