Chicago Fed National Activity Index Up to +0.29 in May - Modern Distribution Management

Chicago Fed National Activity Index Up to +0.29 in May

The latest Chicago Fed National Activity Index (CFNAI) found that three of the four broad categories of indicators used to construct the index chipped-in positive contributions in May.
Economic indicators suggest the pace of growth may be slowing across distribution sectors. Download MDM's June 2022 issue of Premium Monthly to read more.

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.29 in May from –0.09 in April. Three of the four broad categories of indicators used to construct the index made positive contributions in May while three categories improved from April.

The index’s three-month moving average, CFNAI-MA3, rose to +0.81 in May from +0.17 in April.

The CFNAI Diffusion Index, which is also a three-month moving average, moved up to +0.39 in May from +0.16 in April. Fifty-five of the 85 individual indicators made positive contributions to the CFNAI in May while 30 made negative contributions. Fifty-seven indicators improved from April to May, while 27 indicators deteriorated and one was unchanged. Of the indicators that improved, 15 made negative contributions.

Production-related indicators contributed +0.29 to the CFNAI in May, up from –0.05 in April. Industrial production rose 0.8%  in May after moving up 0.1%  in April. The contribution of the sales, orders, and inventories category to the CFNAI increased to +0.02 in May from –0.06 in April.

The personal consumption and housing category contributed –0.18 to the CFNAI in May, down from –0.04 in April. The personal consumption indicators in this category broadly deteriorated, while the housing indicators generally improved from April.

The contribution of the employment, unemployment, and hours category to the CFNAI increased to +0.16 in May from +0.06 in April. Nonfarm payrolls rose by 559,000 in May after increasing by 278,000 in April while the unemployment rate decreased by 0.3 percentage points in May.

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.

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.