Weekly Economics Report - Feb. 28, 2025
Chicago Fed National Activity Index Edges Down
The Chicago Fed National Activity Index for the US fell to -0.03 in January 2025 from an upwardly revised 0.18 in December 2024, suggesting economic growth decreased. The personal consumption and housing category's contribution was -0.14 in January, down from +0.02 in December. Also, production-related indicators contributed +0.03, down from +0.19. The sales, orders, and inventories category made a neutral contribution, up from -0.04; and employment-related indicators contributed +0.07, up from +0.01. Meanwhile, the index's three-month moving average, CFNAI-MA3, increased to +0.03 in January from -0.13 in December 2024.
Eurozone Inflation Rate Confirmed at 6-Month High

The consumer price inflation rate in the Euro Area was confirmed at 2.5% in January 2025, the highest rate since July 2024, driven primarily by a sharp acceleration in energy costs (1.9% vs. 0.1% in December). Meanwhile, inflation for non-energy industrial goods remained steady at 0.5%, while price increases slowed for both services (3.9% vs. 4.0%) and food, alcohol, and tobacco (2.3% vs. 2.6%). The core inflation rate, which excludes volatile food and energy prices, remained unchanged at 2.7% for the fifth consecutive month, marking its lowest level since early 2022. On a monthly basis, consumer prices fell by 0.3% in January, following a 0.4% increase in December.
Source: tradingeconomics.com, LSEG Workspace, Ventum Financial

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