“One report from the Federal Reserve Bank of Chicago is the National Activity Index for the month of December, which was released this morning. It is somewhat misleading by the name because it is a regional Federal Reserve branch issuing the report but it is a national report.
The index came to only 0.02 in December. Bloomberg had a consensus reading of 0.28 and a range from economists of 0.10 to 0.50. The reading in November was 0.27. The three-month average increased marginally but remained in negative territory at -0.11.
Of the four components making up the index, two were positive. Employment stood out at 0.09, versus a prior reading of -0.02. The lagging areas were in consumption and housing and in production….”
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