In 2013, I wrote an article discussing comments made by Russ Koesterich, CFA, regarding the Chicago Fed National Activity Index (CFNAI). Given this economic indicator just crashed by the most on record, it is worth reviewing his comments. To wit:
"While economic numbers like GDP or payroll reports garner the headlines, the most useful statistic often goes ignored by investors and the press."
On Thursday, the Bureau of economic analysis released revisions to the GDP report for the first quarter of 2020. It fell from a 2.3% annual real growth rate in the 4th quarter