Swiss Economicblogs.org
The Chicago Fed’s National Activity Index (NAI) fell to -0.36 in July. That’s down from a +0.10 in June. By itself, the change from positive to negative tells us very little, as does the absolute level below zero. What’s interesting to note about this one measure is the average but more so its rate of change. The index itself is a product of econometric research. Economists had been searching for an alternative to the unemployment rate in order to increase the...
Read More »Definitely A Downturn, But What’s Its Rate of Change?
