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Monday
May242010

Chicago Fed National Activity Index

DateMonday, May 24, 2010 at 10:11AM

This morning's release of the Chicago Fed National Activity Index (CFNAI) came in at a level of 0.29, which was the highest reading since December 2006.  According to the Chicago Fed, if the three month average is greater than 0.20 following a period of economic contraction, then there is a significant likelihood that a recession has ended.  As of this month, the three month moving average of the CFNAI is -0.03.  So in the eyes of the Chicago Fed at least, the economy still needs to show more evidence that a recovery is underway before they would be convinced that the recession is over.

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