The Chicago Fed reported and improvement in its National Activity Index for December. The index was at a positive 0.04 after it had been in the negative in the past three months. Anything above zero shows an above trend economic growth. The index for November was revised to 0.30 from 0.26. The index is lower than the year ago level which posted at 0.49.
The 3-month moving average also increase to 0.19 from 0.36. A year ago the 3-month average was at +0.77. This suggest weak inflationary pressures in the coming months
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