The Federal Reserve Bank of Chicago's monthly gauge of U.S. economic activity rebounded in November as production-related indicators improved.
The Chicago Fed National Activity Index, a weighted average of 85 economic indicators, jumped to positive 0.56 in November from a revised negative 0.76 in October. A negative index reading indicates below-average growth.
Production-related indicators contributed 0.49 in the month, following a contribution of negative 0.60 in October. Employment-related indicators added 0.12 to the index, up from negative 0.07 in the prior month.
Meanwhile, the personal consumption and housing category and the sales, orders and inventories segment contributed negative 0.02 and negative 0.04, respectively.
Fifty of the 85 stand-alone indicators made positive contributions to the index in November, while the rest contributed negatively.
The three-month moving average increased marginally to negative 0.23 in November from negative 0.24 in October.