Chicago Fed National Activity Meets Expectations, but Disappoints

By Jon C. Ogg Published Apr 21, 9:01AM EDT

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The Chicago Fed National Activity Index (CFNAI) is out for the month of March, and this is often used as one of the first super-regional economic readings. It is used to track economic activity and inflation metrics, and it is a weighted average of some 85 existing monthly indicators based on data from around the nation, rather than just in the Midwest.

Monday morning’s report put the CFNAI at 0.20, right in-line with the Bloomberg consensus reading. The number looks higher than the preliminary report for February of 0.14, but the February reading was actually revised higher to 0.53.

A zero value for the CFNAI indicates that the national economy is expanding at its historical trend rate of growth, while negative values indicate below-average growth and positive values indicate above-average growth. Though this is a national index, it is not one of the more widely followed economic reports.

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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.