Chicago Fed November national activity index 0.37 versus 0.75 last month (was 0.76)

• Prior 0.76 revised to 0.75
• the diffusion index which is a three month moving average, increase to 0.35 in November from 0.18 in October
• 53 of the 85 individual indicators made positive contributions
• 32 made negative contributions
• 32 indicators improved from October to November
• 53 indicators deteriorated
• Of the indicators that improved, ten made a negative contributions (but were less negative)
• production contributed 0.21 down from 0.42 in October
• employment related indicators added 0.18 versus 0.23 in October
• personal consumption and housing move down -0.05 versus +0.04 in October
• sales orders and inventories came in at 0.03 versus 0.06 in October

The index is a weighted average composite of 85 existing monthly economic indicators. A positive index reading corresponds to growth above trend. A negative for reading corresponds to growth below trend. The data is compiled of four broad categories:

1. production income,
2. employment,
3. personal consumption and housing, and
4. sales, orders and inventories