Chicago Fed national activity index for March -4.19 versus -3 estimate

Chicago Fed national activity index for March 2020

• national activity index -4.19 versus -3 estimate. Falls to recessionary levels as a result of the coronavirus. Last month the index was at 0.06 revised from +0.16
• 65 of 85 components are negative. 18 more positive and 2unchanged
• all 4 broad categories of indicators used to construct index made negative contributions in March
• a reading below 0 indicates below trend growth the national economy
• the report reflects data available as of April 16. At the time 50 of 85 indicators have been published and the rest were estimated
• production related indicators contributed -2.72
• the employment data contributed -1.23