October 24 An index of national economic activity compiled by the Chicago Federal Reserve Bank improved in September as the result of improvements in all four categories of indicators from the previous month.
The Chicago Fed National Activity Index in September rose to –0.22, up from –0.59 in August. The Index remains in negative territory for the sixth consecutive month, indicating that economic activity was below its historical trend.
Employment-related indicators contributed +0.04 in September, however the unemployment rate was unchanged at 9.1%.
Production-related indicators contributed +0.02, up from –0.06 the previous month.
Consumption and housing indicators rose slightly, from –0.38 in August to –0.30 in September on improved housing starts and better sales, orders and inventories. Building permits were down slightly.
Of 85 indicators that make up the Index, 39 improved in September while 46 made negative contributions.