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Chart of the Week

Archived Chart: From December 2, 2019

The Chicago Fed National Activity Index (CFNAI) dropped to a five year low in the latest reading of its 3-month moving average, but the measure still remains above the recessionary signal line. The downward trend is evidence that the U.S. economy continues to operate on loose-footing, and should it fall materially below the -0.5 level, it could signal the first recession in over a decade. Stay tuned...


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