“Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rebounded to +0.43 in June from -0.45 in May,” the Federal Reserve Bank of Chicago reported on Monday.
Key takeaways from the official publication
- Two of the four broad categories of indicators that make up the index increased from May, and three of the four categories made positive contributions to the index in June.
- The CFNAI Diffusion Index, which is also a three-month moving average, was unchanged at +0.15 in June.
- Production-related indicators contributed +0.36 to the CFNAI in June, up from -0.56 in May.
- Manufacturing industrial production increased 0.8 percent in June after declining 1.0 percent in May.
- Employment-related indicators contributed +0.08 to the CFNAI in June, down slightly from +0.11 in May.
- Nonfarm payrolls increased by 213,000 in June after rising by 244,000 in May.
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