Chicago Fed National Activity Index For May At 0.21
Could not post this yesterday, because of problems at my hosting service caused disruption in Tainted Alpha Blog avilability. My apologies for that.
Chicago Fed national activity index is one of the indicators that correctly predicted this ongoing recession. For May it was reported at 0.21, given its positive reading it is not pointing to a double-dip (jet). The next month reading will be the interesting one.
Chart 1. Chicago Fed National Activity Index