- The national activity index was 0.18, down from -0.23 last time (revised to -0.26).
This is very volatile data and not a market moving announcement.
The Chicago Fed National Activity Index (CFNAI) is a monthly index designed to measure overall economic activity and related inflationary pressures.
The Chicago Fed National Activity Index (CFNAI) increased to +0.18 in May from -0.26 in April. Three of the four broad indicator categories that make up the index increased from April, with two categories contributing positively in May. The CFNAI-MA3, the index’s three-month moving average, decreased to -0.09 in May from -0.05 in April.
The CFNAI Diffusion Index, a three-month moving average, decreased from -0.13 in April to -0.16 in May. Of the 85 individual indicators, 48 had a positive impact on the CFNAI in May, while 37 had a negative impact. From April to May, 54 indicators improved, 29 indicators worsened, and two indicators remained unchanged. Of the improving indicators, 14 had a negative impact.
- Production-related indicators contributed +0.23 to the CFNAI in May, up from -0.15 in April.
- The contribution of the sales, orders and inventory category to the CFNAI decreased from –0.01 in April to –0.02 in May.
- The employment-related indicator made a neutral contribution to the CFNAI in May, increasing from -0.05 in April.
- The contribution of private consumption and housing sector to the CFNAI increased to -0.03 in May from -0.06 in April.
National Activity Index