In December 2023, the three-month moving average of the Chicago Fed Activity Index (CFNAI-MA3) stood at -0.28 for the United States. The CFNAI-MA3 is used to identify whether the economy is moving into or out of a recession. When the CFNAI-MA3 value stays below -0.7 for at least six months, it is a strong indicator that the country is moving into an economic recession. Adversely, if the index value is above 0.7 for at least six months, the country is likely moving away from, or out of, an economic recession.
Three-month moving average of the Chicago Fed National Activity Index of the United States from December 2021 to December 2023
Characteristic
CFNAI-MA3 value
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The Chicago Fed National Activity Index (CFNAI) is a weighted average of 85 indicators based on economic data covering production and income, employment, personal consumption, housing, manufacturing, trade sales, inventories, and orders.
The three-month moving average of the CFNAI is used to identify whether the economy is moving into or out of a recession.
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Federal Reserve Bank of Chicago. (January 25, 2024). Three-month moving average of the Chicago Fed National Activity Index of the United States from December 2021 to December 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1241487/us-three-month-average-chicago-fed-national-activity-index/
Federal Reserve Bank of Chicago. "Three-month moving average of the Chicago Fed National Activity Index of the United States from December 2021 to December 2023." Chart. January 25, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1241487/us-three-month-average-chicago-fed-national-activity-index/
Federal Reserve Bank of Chicago. (2024). Three-month moving average of the Chicago Fed National Activity Index of the United States from December 2021 to December 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1241487/us-three-month-average-chicago-fed-national-activity-index/
Federal Reserve Bank of Chicago. "Three-month Moving Average of The Chicago Fed National Activity Index of The United States from December 2021 to December 2023." Statista, Statista Inc., 25 Jan 2024, https://www.statista.com/statistics/1241487/us-three-month-average-chicago-fed-national-activity-index/
Federal Reserve Bank of Chicago, Three-month moving average of the Chicago Fed National Activity Index of the United States from December 2021 to December 2023 Statista, https://www.statista.com/statistics/1241487/us-three-month-average-chicago-fed-national-activity-index/ (last visited July 22, 2024)
Three-month moving average of the Chicago Fed National Activity Index of the United States from December 2021 to December 2023 [Graph], Federal Reserve Bank of Chicago, January 25, 2024. [Online]. Available: https://www.statista.com/statistics/1241487/us-three-month-average-chicago-fed-national-activity-index/