Chicago Fed National Activity Index Slips in July

2025-08-25 12:41 By Dongting Liu 1 min. read

The Chicago Fed National Activity Index (CFNAI) edged down to -0.19 in July from a revised -0.18 in June, signaling that U.S.

economic activity remained below its historical trend for a fourth straight month.

Although only one of the four broad categories deteriorated from June, three categories still contributed negatively to the index in July.

Production-related indicators contributed -0.10, reversing from +0.01 in June.

Employment-related indicators contributed -0.06, slightly better than -0.08 previously, while the sales, orders, and inventories category contributed -0.02, up from -0.10.

The personal consumption and housing category made a neutral contribution, compared with -0.01 in June.



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