The scent of double dip is in the air.
Only one of the four broad categories of indicators made a positive contribution in August. The production and income component was positive for the second straight month. Employment, consumption and housing, and sales made negative contributions.
Thirty-one of the 85 indicators made positive contributions. Forty-seven of the 85 indicators improved relative to July.
The index was at negative 2.01 in August 2008, and was at negative 4.13 in JanuaryThe Chicago Fed's National Activity Index dropped back to negative 0.90 in August from an upwardly revised negative 0.54 in July.
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