Monday, February 23, 2009

National Activity Index Up From December

A slight sign of a turnaround (emphasis on slight). However, it is very instructive, given the fear mongering going on at the White House.

The Chicago Fed said its National Activity Index was minus 3.45 in January, up from a downwardly revised minus 3.65 in December.

The index has been negative, indicating below-trend growth, for 18 straight months dating back to August 2007.

Of the 85 indicators tracked by the Chicago Fed, 23 made positive contributions in January and 62 made negative contributions. Some 50 indicators improved from December to January, while 34 deteriorated.

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