The Chicago Fed National Activity Index (CFNAI) is a monthly index that measures economic activity in the United States.
The CFNAI is a composite index that is constructed from 85 different economic indicators, including employment, industrial production, housing starts, and personal income.
These indicators are weighted and combined to create a single index value, which ranges from -1.00 to +1.00.
A value above zero indicates that economic activity is above trend, while a value below zero indicates that economic activity is below trend.
Who Reports It?
It is produced by the Federal Reserve Bank of Chicago and is designed to provide a broad overview of the economic conditions in the country.
How it is Generated?
The Chicago Fed National Activity Index (CFNAI) is calculated by combining 85 different economic indicators into a single index value.
The indicators used in the CFNAI include measures of employment, production, income, sales, and orders, as well as other data on housing, personal consumption, and business activity.
To calculate the CFNAI, the economic indicators are first divided…
