Chicago Fed National Activity Index points to a pickup in economic growth in October

"Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.65 in October from +0.36 in September," the Federal Reserve Bank of Chicago announced on Tuesday.

Key takeaways

The contribution from production-related indicators to the CFNAI rose to +0.53 in October from +0.18 in September.

Total industrial production increased 0.9 percent in October after moving up 0.4 percent in September. 

Employment-related indicators contributed +0.11 to the CFNAI in October, down slightly from +0.13 in September.

Civilian employment decreased by 484,000 in October after increasing by 906,000 in September.