Chicago Fed Activity Index still strong

This is the 3-month moving average of the Chicago Fed's National Activity Index. With so many double-dippers out there, I thought it important to highlight an otherwise-obscure index such as this to show that there is very little, if any, data on which to base a recession call. Indeed, as of April this index "suggests that growth in national economic activity was above its historical trend."

HT: Calculated Risk, where you can find a long-term chart of the series as well as more detailed commentary.