Economy
August 26, 2014
The Chicago Federal Reserve National Activity Index Shows Economic Growth Picked up in July
Written by Peter Wright
The following is an abridged version of the Chicago Federal Reserve statement followed by our own graphical analysis. The Chicago Federal Reserve National Activity Index (CFNAI) is an excellent reality check for much of the economic analysis that we routinely provide in the Steel Market Update. An explanation of the Index is provided at the end of this piece.
The official statement reads as follows: Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.39 in July from +0.21 in June. Three of the four broad categories of indicators that make up the index made positive contributions to the index in July, and two of the four categories increased from June.
