Chicago Fed: National Activity Index points to a moderation in economic growth in Nov

"Led by slower growth in production-related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +0.15 in November from +0.76 in October," the Federal Reserve Bank of Chicago wrote in its latest report.

Key takeaways

Industrial production increased 0.2 percent in November after moving up 1.2 percent in October.

The sales, orders, and inventories category also contributed +0.05 to the CFNAI in November, up slightly from +0.04 in October.

The Institute for Supply Management’s Manufacturing New Orders Index increased to 64.0 in November from 63.4 in October.

The contribution from employment-related indicators to the CFNAI was unchanged at +0.11 in November.

The civilian unemployment rate remained at 4.1 percent in November.

The contribution of the personal consumption and housing category to the CFNAI edged down to –0.06 in November from –0.04 in October.

Housing permits decreased to 1,298,000 annualized units in November from 1,316,000 in the previous month.