Economic Growth Jumps In November, Chicago Fed National Activity Index Shows

Economic growth improved markedly in November, according to the Chicago Fed national activity index released Monday. The index rose to 0.73 from an upwardly revised 0.31 in October. The three-month average rose to 0.48 from 0.09 in the prior month. This is the highest three-month average since May 2010. The index, a weighted average of 85 different economic indicators, is designed so that readings above zero indicate above-trend growth. When the three-month average exceeds 0.7, there's an increasing likelihood of sustained increasing inflation.