8/28: MetroIntelligence Econ Update, P.DUFFY

July Chicago Fed’s National Activity Index fell to +0.13 from +0.48 in June

Led by slower growth in production-related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +0.13 in July from +0.48 in June.  The index’s three-month moving average, CFNAI-MA3, moved down to +0.05 in July from +0.20 in June.



July durable goods orders slip 1.7 percent, but business investment continued to rise

Orders for long-lasting goods fell 1.7% in July, the third drop in fourth months.  However, after stripping out planes and cars, orders actually rose 0.2% to mark the sixth increase in a row, suggesting that business investment remains strong.