Chicago Fed National Activity Index, May 2006
Two of the four broad categories of indicators in the index made negative contributions. The three-month moving average, CFNAI-MA3, was +0.16 in May. A CFNAI-MA3 reading above zero is associated with above-trend economic growth; accordingly, the CFNAI-MA3 value of +0.16 in May suggests that growth in national economic activity was slightly above its historical trend. With regard to
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