{"id":1004091735,"date":"2014-02-25T07:11:30","date_gmt":"2014-02-25T15:11:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004091735"},"modified":"2022-12-06T03:29:21","modified_gmt":"2022-12-06T11:29:21","slug":"economy-watch-economic-activity-slows-down-in-january-gas-prices-rise-suddenly","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-economic-activity-slows-down-in-january-gas-prices-rise-suddenly\/","title":{"rendered":"Economy Watch: Economic Activity Slows Down in January; Gas Prices Rise Suddenly"},"content":{"rendered":"

By Dees Stribling, Contributing Editor<\/em><\/p>\n

The Chicago Fed reported on Monday that its National Activity Index (CFNAI) decreased to \u20130.39 in January from \u20130.03 in December. Declines in production-related indicators were the main cause for the drop, which could be a reflection of the weather, which is being widely blamed for temporarily slowdowns in various sectors of the economy.<\/p>\n

The index\u2019s three-month moving average, which is known as the CFNAI-MA3, dropped to +0.10 in January from +0.26 in December, marking its fifth consecutive reading above zero. January\u2019s CFNAI-MA3 suggests that growth in national economic activity is still above historical trends, and supports the contention that January was a weather-related aberration. According to the Chicago Fed, the economic growth reflected by the CFNAI-MA3 also suggests limited inflationary pressure over the coming year (which is in line with recent PPI and CPI readings).<\/p>\n

The index is a weighted average of 85 indicators of national economic activity drawn from four broad categories: production and income; employment, unemployment, and hours; personal consumption and housing; and sales, orders, and inventories. A zero value indicates that the national economy is expanding at its historical trend rate of growth. Negative values indicate below-average growth, and positive values indicate put growth above average.<\/p>\n

Gas Prices Rise Suddenly\u00a0<\/strong><\/p>\n

The average U.S. price for regular gasoline has seen an upward climb for more than two weeks now, rising about 15 cents a gallon during that period, according to AAA. That\u2019s the largest price increase since last summer. As of Monday, the average for a gallon of regular was almost $3.42 a gallon, compared with nearly $3.29 a month ago.<\/p>\n

Still, compared with a year ago, the price is still lower; in late February 2013, a gallon averaged over $3.77, notes AAA. The price of gas may continue its upward trajectory for now, since refinery maintenance season is about to begin \u2013 which reduces retail gas supplies — and some oil-producing places, notably Venezuela and South Sudan, and still embroiled in political uncertainty, which adds uncertainty to worldwide oil supplies.<\/p>\n

Even so, the Energy Information Agency is still predicting lower retail gas prices on average in 2014 and \u201915, at least compared with last year: $3.51 in 2013, $3.44 this year, and $3.37 next year. The downward movement will occur as the average price of oil on world markets drops, predicts the EIA.<\/p>\n

Wall Street had a positive day on Monday, with the Dow Jones Industrial Average gaining 103.84 points, or 0.64 percent. The S&P 500 advanced 0.62 percent and the Nasdaq was up 0.69 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Chicago Fed reported that its National Activity Index decreased to \u20130.39 in January from \u20130.03 in December. The average price for regular gasoline has risen 15 cents a gallon for more than two weeks now.<\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004091735","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nEconomy Watch: Economic Activity Slows Down in January; Gas Prices Rise Suddenly - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-economic-activity-slows-down-in-january-gas-prices-rise-suddenly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Economic Activity Slows Down in January; Gas Prices Rise Suddenly\" \/>\n<meta property=\"og:description\" content=\"The Chicago Fed reported that its National Activity Index decreased to \u20130.39 in January from \u20130.03 in December. 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