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US: Chicago Fed National Activity Index edges down to -0.29

"The Chicago Fed National Activity Index (CFNAI) edged down to –0.29 in February from –0.25 in January," the Federal Reserve Bank of Chicago said on Monday.

Key takeaways from the press release

  • The CFNAI Diffusion Index, which is also a three-month moving average, decreased to –0.05 in February from +0.12 in January.
  • The contribution from production-related indicators to the CFNAI moved up to –0.16 in February from –0.29 in January. 
  • Employment-related indicators contributed –0.10 to the CFNAI in February, down from +0.07 in January. 

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