Chicago Federal National Activity Index (April 2013)
– Index Level -0.53. Previous was -0.23.
This is a national index produced by the Chicago Fed. This is not a survey index but rather a weighted average of 85 existing monthly indicators of economic activity at the national level. Just as every other recent manufacturing index, this one shows that manufacturing in the U.S. is not recovering. Manufacturing jobs in the U.S. are simply not likely to return despite media hype at the end of last year. We will have periods of growth but nothing resembling a Renaissance. Only a major technological breakthrough would change this course.