Chicago Fed National Activity Index: Economic Activity Slowed in November

The Federal Reserve Bank of Chicago reported its findings for its latest economic index for November: "Led by declines in employment-related indicators, the Chicago Fed National Activity Index decreased to –0.46 in November from –0.25 in October.  For November of 2006, the index was +0.01." Why do I bring this index up?  Because I consider this to be the best overall measure of economic activity.  Why?  Because this index is a weighted average of 85 indicators of national economic activity. The indicators are drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories.

In other words, the economy is getting weaker, not stronger.  (See the following chart.) 

For the full article, click-on Fed of Chicago.