Fed’s “National Activity Index” Crashes By Most In At Least 50 Years

Just another macro data point for so-called investors to ignore…

US economic activity collapsed in April, according to the Chicago Fed. The national index, which draws on 85 economic indicators, crashed to a record low -16.74 in April versus -4.97 in March (and massively worse than the expected level of -3.50).

• 6 of the 85 monthly individual indicators made positive contributions

• 79 of the 85 monthly individual indicators made negative contributions

If that does not provide some context for the level of carnage imposed on the US economy, we do not know what does.