Against expectations of a small rise from 0.03 to 0.06, The Chicago Fed’s National Activity Index (which draws on 85 economic indicators) tumbled to -0.15 in December. 2023 ends with 8 of the 12 months in negative territory…
Source: Bloomberg
Under the hood, 48 of the 85 inputs made a negative contribution with all major subcategories weaker MoM and only personal consumption barely above zero…
CFNAI’s Diffusion Index remains significantly weak…
This indicates below-trend-growth in the national economy and a sign of easing pressures on future inflation
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