{"id":1236419,"date":"2022-01-24T17:24:56","date_gmt":"2022-01-24T22:24:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1236419"},"modified":"2022-01-24T17:25:01","modified_gmt":"2022-01-24T22:25:01","slug":"chicago-fed-economic-activity-index-unexpectedly-plunges-as-production-and-consumption-weaken","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chicago-fed-economic-activity-index-unexpectedly-plunges-as-production-and-consumption-weaken\/","title":{"rendered":"Chicago Fed Economic Activity Index Unexpectedly Plunges as Production and Consumption Weaken"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchicago-fed-economic-activity-index-unexpectedly-plunges-as-production-and-consumption-weaken%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1236419&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-1366094193-e1643037169318-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">U.S. economic growth declined by far more than expected in December, according to an index published Monday by the Federal Reserve Bank of Chicago.<\/p>\n<p>The Chicago Fed National Activity Index plunged to a reading of negative 0.15 in December from 0.44 in November and 0.75 in October.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Economists had forecast the December reading to fall to a positive 0.25, according to Econoday.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The index is compiled each month by the Chicago Fed using 85 indicators of national economic activity. It is constructed to have an average value of zero. A positive index reading indicates growth above trend and a negative reading indicates growth below trend.<\/p>\n<p>A fall in the indicators linked to production led the plunge in the headline index. In November, this contributed a positive 0.25 points to the index. In December, it subtracted 0.13 from the reading. Both manufacturing production and capacity utilization declined as rising Covid-19 infections and quarantining forced workers to stay home and supply-chain problems led to shortages of materials and components.<\/p>\n<p>The group of indicators linked to personal consumption and housing also subtracted from the December reading, coming in at a negative 0.19. That, however, was an improvement from the negative 0.22 reading in November.<\/p>\n<p>Employment indicators added 0.13 to the index a decline from the previous month as job growth <a href=\"https:\/\/www.breitbart.com\/economy\/2022\/01\/07\/another-disaster-u-s-economy-added-just-199000-jobs-in-december\/\">slowed to less than half the pace expected<\/a>.<\/p>\n<p>The contribution of the sales, orders, and inventories category fell from 0.5 in November to 0.03 in December. This likely reflects a decline in consumer purchases in December stemming from the decisions by many households to <a href=\"https:\/\/www.breitbart.com\/economy\/2022\/01\/14\/bidenflation-stole-christmas-december-retail-sales-crash-as-high-prices-and-shortages-weigh-on-consumers\/\">complete holiday shopping earlier than typical<\/a> this year in reaction to soaring inflation and supply chain bottlenecks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. economic growth declined by far more than expected in December, according to an index published Monday by the Federal Reserve Bank of Chicago. The Chicago Fed National Activity Index &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1236419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1236419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1236419"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1236419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1236419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1236419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1236419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}