Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Economy underwhelms in January, Chicago Fed says
CHICAGO (2/25/14)--Economic activity slowed for the second straight month in January, likely dragged down by the severe winter weather, according to numbers released Monday by the Chicago Federal Reserve.
 
The Chicago Fed National Activity Index (FNAI) decreased to -0.39 in January from -0.03 in December. It looks at 85 economic indicators such as production, jobs, housing, consumer spending and inventories. Negative values signal a below-average rate of economic growth.
 
The labor market improved slightly after December came in slow. The 113,000 tick upwards in payrolls leaves concerns about job market strength, according to Moody's analysts (Economy.com Feb. 24). Weakness in jobs, housing and industrial production could be ascribed to disruptive winter storms. Pent-up demand likely will boost numbers when the weather improves (MarketWatch Feb. 24).
 
The CFNAI's three-month moving average, a better indicator of economic trends, dipped to 0.1 from 0.26. That is slightly above neutral and suggests the economy is on pace with historical trends, Moody's said. A zero reading means that the economy is growing at its historical trend, while positive values signal above-average growth.
 
The prospects for 2014 remain upbeat, however, with last year's threats losing their strength, analysts said. The federal budget and debt-ceiling issues put fiscal uncertainty off the table until 2015, and Federal Reserve policy also appear to be stable.


RSS





print
News Now LiveWire
Watching #SuperBowlXLIX this Sunday? Look for regional #creditunion #commercials @CltMetroCU @BECU @golden1cu #Seahawks #Patriots
6 hours ago
Philadelphia's American Bakery Workers FCU liquidated by @TheNCUA; @trumarkonline assumes shares
6 hours ago
More branch shutterings by @Citi: 4th-largest bank to close 10% of #Chicago area branches HT @CrainsChicago http://t.co/2vAvgucLY5
7 hours ago
56% struggle with subprime credit scores says @cfed survey HT @washingtonpost http://t.co/RHmMvuhNtw
8 hours ago
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
8 hours ago