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Economy

Chicago Fed National Activity Feels Like Recession

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By Jon C. Ogg Updated Published
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Chicago

The Chicago Federal Reserve has released its National Activity Index for the month of April. Unfortunately, the move was in the wrong direction. April saw the drop down to -0.53 from an already negative report of -0.23 from March. Today’s report sounds like yet another negative economic one, but the good news for the market is that investors tend to overlook this one report compared to other national and super-regional reports.

The three-month moving average was also negative at -0.04 in April, but this is actually less bad than the -0.05 average reported back in March.

Today’s data is a weighted average of 85 different economic indicators. The design is to indicate that a reading above zero is positive and resembling growth. A negative reading represents economic contraction.

Over the weekend came news that Ben Bernanke was calling for more innovation to rescue the economy.

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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