The Chicago Federal Reserve announced
on Monday the Chicago Fed national activity index (CFNAI), a weighted average
of 85 different economic indicators, fell to 0.00 in August from an upwardly
revised +0.29 (from +0.29) in July, pointing to a moderation in economic activity’s
growth in the previous month.
Meanwhile, the index’s three-month moving average edged up to +0.01 in August
from -0.08 in the previous month.
According to the report, three of four broad categories of indicators of the CFNAI
made positive contributions in August, but three categories deteriorated from
July. The contribution of the personal consumption and housing category to the
CFNAI last month was +0.05 in August, slightly up from +0.01 the month before. The
employment-related indicators contributed +0.03 to the CFNAI, down from +0.12
in July. The contribution of the sales, orders and inventories category to the
CFNAI slipped to +0.01 in August from +0.03 in the previous month. Meanwhile, the
production-related indicators contributed -0.08 to the headline indicator last
month, down from +0.12 in July.