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 +0.05 in June, compared to an upwardly revised +0.23 (from +0.18) in May, pointing
to a decrease in economic growth in the previous month.
Meanwhile, the
index’s three-month moving average rose to -0.01 in June from -0.08 in May.
According to
the report, three of four broad
categories of indicators of the CFNAI fell from May and three of them made negative
contributions.
The
production-related indicators contributed +0.11 to the headline indicator in June,
down from +0.23 in May. At the same time, the employment-related indicators contributed
-0.02 to the CFNAI, down from +0.01 in the previous month, while the sales,
orders, and inventories category contributed -0.02, down from +0.01, and the
personal consumption and housing category contributed -0.02, unchanged from
May.