CFNAI Super Index Sinks to Near Recession Levels in October 2012

(Before It's News)

Written by Steven Hansen

The economy weakened in October 2012 with the Chicago Fed National Activity Index (CFNAI) 3 month moving (3MA) average falling to the lowest level since October 2009. The 3MA has remained in negative territory for the last 8 months – indicating national economic activity was below its historical trend, but now only slightly above the levels associated with recessions.

The index’s trend remains “less good” (positive growth, negative acceleration) – meaning the economy is softening.  The Chicago Fed National Activity Index (CFNAI) provides a summary quantitative value for all the economic data being released. However, this index IS NOT accurate in real time (see caveats below) – and it did miss the start of the 2007 recession.

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