The Chicago Fed National Activity Index edged up to a three-month high of 0.05 in February 2024 from a downwardly revised -0.54 in January, signalling a slight increase in economic growth. Production-related indicators contributed +0.02, up from –0.32 in January. The sales, orders, and inventories category's contribution was +0.02, up from -0.12. Employment-related indicators contributed +0.01, up from -0.02 in January and the personal consumption and housing category made a neutral contribution, up from -0.08 in January. Meanwhile, the CFNAI Diffusion Index, which is a three-month moving average, decreased to -0.09 in February from -0.04 in January. source: Federal Reserve Bank of Chicago

Chicago Fed National Activity Index in the United States increased to 0.05 points in February from -0.54 points in January of 2024. Chicago Fed National Activity Index in the United States averaged 0.00 points from 1967 until 2024, reaching an all time high of 6.26 points in June of 2020 and a record low of -18.10 points in April of 2020. This page provides the latest reported value for - United States Chicago Fed National Activity Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Chicago Fed National Activity Index - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Chicago Fed National Activity Index in the United States increased to 0.05 points in February from -0.54 points in January of 2024. Chicago Fed National Activity Index in the United States is expected to be 0.29 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Chicago Fed National Activity Index is projected to trend around 0.20 points in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-22 01:30 PM
Chicago Fed National Activity Index
Jan -0.3 0.02 -0.19
2024-03-25 12:30 PM
Chicago Fed National Activity Index
Feb 0.05 -0.54 -0.9
2024-04-22 12:30 PM
Chicago Fed National Activity Index
Mar 0.05 0.29


Related Last Previous Unit Reference
Building Permits 1524.00 1489.00 Thousand Feb 2024
ISM Manufacturing PMI 47.80 49.10 points Feb 2024
Business Inventories MoM 0.00 0.30 percent Jan 2024
Chicago Fed National Activity Index 0.05 -0.54 points Feb 2024
Consumer Spending 15586.67 15461.38 USD Billion Dec 2023
Housing Starts 1521.00 1374.00 Thousand units Feb 2024
Industrial Production YoY -0.23 -0.31 percent Feb 2024
Manufacturing Production YoY -0.65 -1.14 percent Feb 2024
New Orders 569702.00 591153.00 USD Million Jan 2024
Non Farm Payrolls 275.00 229.00 Thousand Feb 2024
Nonfarm Payrolls Private 223.00 177.00 Thousand Feb 2024
Personal Spending MoM 0.20 0.70 percent Jan 2024
Retail Sales MoM 0.60 -1.10 percent Feb 2024
Unemployment Rate 3.90 3.70 percent Feb 2024

United States Chicago Fed National Activity Index
The Chicago Fed National Activity Index (CFNAI) is designed to gauge overall economic activity and related inflationary pressure. The CFNAI is based on a weighted average of 85 existing monthly indicators of national economic activity. It has an average value of zero and a standard deviation of one. Since economic activity tends toward trend growth rate over time, a positive reading corresponds to growth above trend and a negative reading corresponds to growth below trend.
Actual Previous Highest Lowest Dates Unit Frequency
0.05 -0.54 6.26 -18.10 1967 - 2024 points Monthly
NSA

News Stream
Chicago Fed National Activity Index Edges Up
The Chicago Fed National Activity Index edged up to a three-month high of 0.05 in February 2024 from a downwardly revised -0.54 in January, signalling a slight increase in economic growth. Production-related indicators contributed +0.02, up from –0.32 in January. The sales, orders, and inventories category's contribution was +0.02, up from -0.12. Employment-related indicators contributed +0.01, up from -0.02 in January and the personal consumption and housing category made a neutral contribution, up from -0.08 in January. Meanwhile, the CFNAI Diffusion Index, which is a three-month moving average, decreased to -0.09 in February from -0.04 in January.
2024-03-25
Chicago Fed National Activity Index Falls in January
The Chicago Fed National Activity Index decreased to -0.30 in January 2024, from a revised 0.02 in the prior month, indicating activity contracted during the month. Three of the four broad categories of indicators used to construct the index decreased from December, and three categories made negative contributions in January. Production-related indicators contributed –0.16 to the CFNAI in January, down from –0.08 in December. The sales, orders, and inventories category's contribution to the CFNAI was –0.04, down from +0.05 in December. Employment-related indicators made a neutral contribution to the CFNAI in January, unchanged from December. The personal consumption and housing category's contribution to the CFNAI was –0.10 in January, down from +0.05 in December. The index's three-month moving average, CFNAI-MA3, increased to –0.02 in January from –0.14 in December.
2024-02-22
Chicago Fed National Activity Index Down in December
The Chicago Fed National Activity Index fell to -0.15 in December 2023, from a downwardly revised 0.01 in the prior month, indicating activity contracted during the month. All four broad categories of indicators decreased from November, and three categories made negative contributions in December. Production-related indicators contributed –0.06 to the CFNAI in December, down slightly from –0.04 in November. Manufacturing production increased 0.1% in December after rising 0.2% in the previous month. The contribution of the sales, orders, and inventories category to the CFNAI moved down to –0.04 in December from +0.04 in November. Employment-related indicators contributed –0.06 to the CFNAI, down from –0.02 in November. The contribution of the personal consumption and housing category to the CFNAI ticked down to +0.01 in December from +0.03 in November. The index’s three-month moving average, CFNAI-MA3, moved down to –0.28 in December from –0.24 in November.
2024-01-25