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“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.