By Xavier Fontdegloria
U.S. economic activity grew in March after falling the previous month amid strong production, personal consumption and housing data, the Federal Reserve Bank of Chicago said Thursday.
The Chicago Fed National Activity Index rose to 1.71 in March from a revised minus 1.20 in February. The figure, which is the highest since July 2020, beats economists’ consensus, who polled by FactSet expected the indicator to come in at 0.90.
The CFNAI index is composed of 85 economic indicators drawn from four broad categories of data: production and income; employment, unemployment and hours; personal consumption and housing; and sales, orders and inventories. A positive index