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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (169045)5/30/2002 1:39:17 PM
From: Les H   of 436258
 
Chicago Fed national index negative in April


Thursday May 30, 9:55 AM EDT

NEW YORK, May 30 (Reuters) - The Federal Reserve Bank of Chicago said on Thursday its National Activity Index was mired in negative territory for the 22nd consecutive month in April at a level of -0.22.

That followed a downwardly revised index of -0.31 in March. Initial positive readings for February and March were erased by data revisions.

The three-month moving average index, which smooths out month-to-month fluctuations, deteriorated slightly in April, falling to -0.24 from March's downwardly revised -0.19.

The Chicago Fed said the negative three-month reading indicated the national economy was growing below trend and the economic expansion continued to be slower than typical recoveries from recession.

Index readings below zero also signalled reduced inflationary pressures over the coming year.




Following are details of the index:

Monthly index:

April02 March02 (Prev) April01
-0.22 -0.31 +0.06 -1.48

Three-month moving average
April02 March02 (Prev) April01
-0.24 -0.19 +0.03 -1.04

NOTES:

Zero values in the index indicate a national economy expanding at historical trends, while negative values indicate below-trend growth and positive values signal growth above trend, the Chicago Fed said.

The 85 economic indicators that comprise the Chicago Fed's index are drawn from five categories: production and income; employment, unemployment and hours; personal consumption, housing starts and sales; manufacturing and trade sales; and inventories and orders.
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