Posted on 12/18/2003 7:13:32 AM PST by Starwind
Chicago Fed national activity index jumps in Nov. Thursday December 18, 10:00 am ET
NEW YORK, Dec 18 (Reuters) - The Federal Reserve Bank of Chicago said on Thursday its National Activity Index jumped sharply in November to its highest level since March 2000, helped by improving industrial production.
The index rose to +0.55 in November from an upwardly revised +0.19 in October.
Much of the increase was due to rising factory production and upbeat reports from purchasing managers. But the consumption and housing category and sales and inventories also rose in November.
The only major category to decline was employment, since the 57,000 jobs increase in the November payrolls report was still below its long-term trend.
The three-month moving average of the index also increased sharply, to +0.33 in November from a revised +0.01 in October.
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