Posted March 22, 2021

Chicago Fed National Activity Index fell to -1.09

The Chicago Fed National Activity Index fell to –1.09 in February from +0.75 in January.

Two of the four broad categories of indicators used to construct the index made negative contributions in February, but all four categories decreased from January. The index’s three-month moving average decreased to –0.02 in February from +0.46 in January.

Production-related indicators contributed –0.85 to the CFNAI in February, down from +0.37 in January. Adverse weather played a part in industrial production declining 2.2 percent in February, after rising 1.1 percent in January. The contribution of the sales, orders, and inventories category to the CFNAI edged down to +0.03 in February from +0.06 in January.

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