The Chicago Federal Reserve reported on Monday the Chicago
Fed national activity index (CFNAI), a weighted average of 85 different economic
indicators, came in at +0.15 in March, compared to an upwardly revised +0.09 (from +0.05) in February,
pointing to an increase in economic growth in the previous month. This was the highest reading since November 2023 (+0.22).
Meanwhile, the
index’s three-month moving average advanced to -0.19 in March from -0.28 in February.
According to
the report, two of four broad categories
of indicators of the CFNAI rose from March and two of them made positive
contributions.
The employment-related
indicators contributed +0.04 to the headline indicator in March, up from -0.01
in the previous month, while the production-related indicators contributed
+0.11, down from +0.13 in February. At the same time, the sales, orders, and
inventories category made a neutral contribution to the CFNAI in March, up from
-0.05 in February, and the personal consumption and housing category
contributed -0.01, down from +0.02 in February.