National Activity Index unchanged in August, three-month moving average improved
The Chicago Fed National Activity Index (CFNAI) was unchanged at +0.18 in August. The index’s three-month moving average, CFNAI-MA3, rose to +0.24 in August from +0.02 in July.
Private sector growth slows in September due to rising costs for labor and imports
According to an early September read by IHS Markit, growth in the U.S private sector grew by the smallest amount since April 2017. This slower rate of growth is being blamed on a pullback in the service sector due to rising costs for labor and inputs sourced from abroad.