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Market Update: Chicago Fed Activity Index Rebounds
The Chicago Fed National Activity Index increased to 0.29 in May of 2021 from a downwardly revised -0.09 in April, pointing to a pick up in economic growth, led by improvements in production-related indicators. Production-related indicators contributed +0.29, up from -0.05 in April; the contribution of the employment, unemployment, and hours category rose to +0.16 from +0.06 and the contribution from the sales, orders, and inventories category was +0.02 compared to -0.06. On the other hand, the personal consumption and housing category contributed -0.18, down from -0.04. The indexs three-month moving average went up to +0.81 from +0.17. source: Federal Reserve Bank of Chicago [/s2If]
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