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Another Regional Fed Survey Collapses - Chicago Activity Index Hits 6-Month Lows

From Dallas to Philly, and from New York to Richmond, the regional Fed surveys have been ugly. So not to be outdone, Chicago Fed's National Activity Index collapsed from +0.34 to -0.41 (dramatically missing expectations of 0.24) and testing 6-month lows. The CFNAI has now missed expectations for 7 of the last 9 months.

 

Ugly year so far...

 

The reading below zero indicates below-trend growth in the national economy and easing pressures of future inflation.

 

Charts: Bloomberg