by Bill McBride on 6/28/2010 10:00:00 AM
Monday, June 28, 2010
Note: This is a composite index based on a number of economic releases.
From the Chicago Fed: Index shows economic activity continued to expand in May
The index’s three-month moving average, CFNAI-MA3, rose to its highest level since March 2006, increasing to +0.28 in May from +0.05 in April. May’s CFNAI-MA3 suggests that growth in national economic activity was above its historical trend. Moving above +0.20, the index’s three-month moving average in May also reached a level historically associated with a mature economic recovery following a recession.Click on table for larger image in new window.
This graph shows the Chicago Fed National Activity Index (three month moving average) since 1967. According to the Chicago Fed:
A zero value for the index indicates that the national economy is expanding at its historical trend rate of growth; negative values indicate below-average growth; and positive values indicate above-average growth.This is the highest level in the index since March 2006, and indicates growth slightly above trend.
Posted by Bill McBride on 6/28/2010 10:00:00 AM