Yesterday the Chicago Fed released their National Activity Index for the month of September. While still a negative number the index improved from a reading of -0.59 in August to a reading of -0.22. A negative number does not mean contraction. Zero is measured as the normal growth rate for the U.S. economy. Any number above zero means the economy is growing at an above-average rate and any number below zero means an economy is growing at below-average rates.
