Chicago Fed National Activity Index, June 2005

The Chicago Fed National Activity Index for June 2005 was +0.28 in June, up from -0.03 in May. Three of the four broad categories of indicators that make up the index - production and income, consumption and housing, and sales, orders, and inventories - made positive contributions.

The three-month moving average, CFNAI-MA3, was +0.12 in June. A CFNAI-MA3 reading above zero is associated with above-trend economic growth; accordingly, the CFNAI-MA3 value of +0.12 in June suggests that growth in

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