The Chicago Federal Reserve announced on Monday the Chicago
Fed national activity index (CFNAI), a weighted average of 85 different economic
indicators, came in at -0.03 in January 2025, compared to an upwardly revised +0.18 (from +0.15) in December
2024, pointing to a slight decrease in economic growth in the previous month.
Economists
had expected the index to increase to +0.21 in January.
Meanwhile, the
index’s three-month moving average advanced to +0.03 in January from -0.13 in December.
According to
the report, two of four broad categories
of indicators of the CFNAI declined from December and one category made a negative contribution.
The production-related
indicators contributed +0.03 to the headline indicator in January, down from +0.19
in December. At the same time, the employment-related indicators contributed +0.07
to the CFNAI, up from +0.01 in the previous month. The sales, orders, and inventories
category made a neutral contribution to the CFNAI, up from -0.04 in December. The
personal consumption and housing category contributed -0.14, down from +0.02 in
December.