2017 Economic Calendar
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United States : Chicago Fed National Activity Index  
Released On 8/21/2017 8:30:00 AM For Jul, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Level0.13 0.16 0.22 -0.13  to 0.25 -0.01 
3 Month Moving Average-0.05 0.09 -0.05 

Held down by flat readings throughout, July was surprisingly weak based on the national activity index which came in at minus 0.01 to indicate fractionally lower-than-normal growth in the month. July's production component fell to minus 0.02 from plus 0.03 in June as manufacturing production dropped slightly; the employment component, at plus 0.09, was the strongest contributor in the month though down from 0.13 in June; the consumer & housing component fell 0.06 as permits fell back once again; and sales/orders/inventories sank to minus 0.01 from plus 0.06. Manufacturing production and housing permits once again undercut what was otherwise a solid month for the economy.

Consensus Outlook
July was a strong month for payroll growth and an especially solid one for retail sales, both of which are certain to give a lift to the national activity index. Housing permits, however, will be a key negative and are holding down the consensus, which calls for 0.22 vs June's 0.13.

The Chicago Fed National Activity Index (CFNAI) is a monthly index that tracks overall economic activity and inflationary pressures. The CFNAI is a weighted average of 85 existing monthly indicators of national economic activity. It is constructed to have an average value of zero and a standard deviation of one. Since economic activity tends toward trend growth over time, a positive index reading corresponds to growth above trend and a negative index reading corresponds to growth below trend.  Why Investors Care

2017 Release Schedule
Released On: 1/262/233/204/245/226/267/278/219/2510/2311/2112/21
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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