Chicago Fed National Activity Index Ticks Up to +0.66 in January

Chicago Fed National Activity Index Ticks Up to +0.66 in January

Latest Chicago Fed National Activity Index (CFNAI) shows that all four broad categories of indicators used to construct the index made positive contributions in January, but three categories decreased from December.
CFNAI August 2021

Led by improvements in personal consumption-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.66 in January from +0.41 in December. All four broad categories of indicators used to construct the index made positive contributions in January, but three categories decreased from December. The index’s three-month moving average, CFNAI-MA3, decreased to +0.47 in January from +0.60 in December.

The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.34 in January from +0.49 in December. Fifty-three of the 85 individual indicators made positive contributions to the CFNAI in January, while 32 made negative contributions. Forty-nine indicators improved from December to January, while 36 indicators deteriorated. Of the indicators that improved, 13 made negative contributions.

Production-related indicators contributed +0.28 to the CFNAI in January, down from +0.37 in December. Industrial production increased 0.9% in January after rising 1.3% in December. The contribution of the sales, orders, and inventories category to the CFNAI edged down to +0.02 in January from +0.05 in December.

Employment-related indicators contributed +0.01 to the CFNAI in January, down slightly from +0.05 in December. Nonfarm payrolls increased by 49,000 in January, after falling by 227,000 in the previous month. Notably, however, payrolls in manufacturing and retail trade declined in January. The contribution of the personal consumption and housing category to the CFNAI rose to +0.35 in January from –0.06 in December. Several personal consumption-related indicators improved from December.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.