A key gauge of overall economic activity in the US fell to a four-month low in November as declines in production and income indicators weighed.
The Federal Reserve Bank of Chicago’s closely-watched Chicago Fed National Activity Index fell to -0.27 last month from a reading of -0.05 in October. November’s reading was the lowest since August and the fourth consecutive month in which the reading has been in negative territory.
The index, a weighted average of 85 existing monthly indicators of national economic activity, is drawn from four broad categories of data. Of these categories, the bank’s production and income indicator posted its fourth consecutive month with a negative reading, coming in at -0.198 and marking its lowest level since September.
The index for personal consumption and housing was also in negative territory, with a reading -0.10 while the indicator of employment, unemployment and hours posted a positive reading of 0.02 and the sales, orders and inventories gauge came in at positive 0.10.