Pace of U.S. economic growth slowed in November, says Chicago Fed
The U.S. economy continued to grow in November, but at a slower pace compared with the previous month, according to an index compiled by the Federal Reserve Bank of Chicago released Wednesday.
The CFNAI index is composed of 85 economic indicators drawn from four broad categories of data: production and income; employment, unemployment and hours; personal consumption and housing; and sales, orders and inventories. A positive reading signals growth above historical trend, while a negative reading corresponds to growth below trend.
Production-related indicators contributed 0.21 points to the index, down from 0.42 the previous month, as industrial production growth eased to 0.5%. The contribution of the sales, orders and inventories category edged down to 0.03 points in November from 0.06 points in October, the Chicago Fed said.
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