National Economic Index Nearing Recession Levels in August 2010

What a difference on month makes.  Flying on the heels of significant backward revision, the Chicago Fed National Activity Index (CFNAI)  and its three month moving average fell to -0.53 and -0.42 respectively in August 2010.  For a quick review of last months index see Chicago Fed National Activity Index (CFNAI) Rising or Falling? A …

Chicago Fed National Activity Index (CFNAI) Rising or Falling?

The July reading of the 3-month moving average of the Chicago Fed National Activity Index (CFNAI) has dropped back below zero the past two months after reaching above zero for the first time since the recession began for just one month in May. It is currently above levels that would be associated with recession, but it is close enough to bear close watching.