Need Help? (888) 742-5060

In The News:

Chicago Fed National Activity Index Drops in January

Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to -0.39 in January from -0.03 in December. Two of the four broad categories of indicators that make up the index decreased from December, and two of the four categories made negative contributions to the index in January.

The index’s three-month moving average, CFNAI-MA3, decreased to 0.10 in January from 0.26 in December, marking its fifth consecutive reading above zero. January’s CFNAI-MA3 suggests that growth in national economic activity was above its historical trend. The economic growth reflected in this level of the CFNAI-MA3 suggests limited inflationary pressure from economic activity over the coming year.

The CFNAI Diffusion Index decreased to 0.11 in January from 0.28 in December. 41 of the 85 individual indicators made positive contributions to the CFNAI in January, while 44 made negative contributions. 41 indicators improved from December to January, while 44 indicators deteriorated. Of the indicators that improved, 10 made negative contributions.

Employment-related indicators contributed 0.13 to the CFNAI in January, up from 0.06 in December. The unemployment rate decreased to 6.6 percent in January from 6.7 percent in December, while nonfarm payrolls increased by 113,000 in January after rising by 75,000 in the previous month. The contribution from the sales, orders, and inventories category to the CFNAI increased to 0.02 in January from -0.01 in December.

Production-related indicators contributed -0.36 to the CFNAI in January, down from 0.06 in December. Manufacturing output decreased 0.8 percent in January after rising 0.3 percent in December, and manufacturing capacity utilization decreased to 76 percent in January from 76.7 percent in the previous month.

The contribution from the consumption and housing category to the CFNAI moved down to -0.18 in January from -0.14 in December. Housing starts declined to 880,000 annualized units in January from 1,048,000 in December, and housing permits declined to 937,000 annualized units in January from 991,000 in the previous month.

For more detail, download the PDF below.

© 2019 Gale Media, Inc.

Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit MDM welcomes inbound links from your site. Please cite Modern Distribution Management.

2018-top-distributors-listThe 2018 Top Distributors List

This free PDF includes lists of top distribution companies across 14 sectors.

You will also receive MDM Update, our daily distribution e-newsletter & other distribution-focused content.

Download the Free PDF now >>

MDM-UpdateMDM Update: Daily Newsletter 

Sign up to read the best source for news & trends in wholesale distribution, MDM Update. Delivered daily to your inbox. 

Sign-up for MDM Update >>

Partner Center