“Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to -0.43 in January from +0.05 in December,” the Federal Reserve Bank of Chicago reported on Monday.
Key quotes
- The CFNAI Diffusion Index, which is also a three-month moving average, decreased slightly to +0.09 in January from +0.18 in December.
- The contribution from production-related indicators to the CFNAI decreased to -0.45 in January from +0.08 in December
- Employment-related indicators contributed +0.05 to the CFNAI in January, up slightly from +0.02 in December.
- The contribution of the personal consumption and housing category to the CFNAI edged up to -0.04 in January from -0.06 in December.
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