CFNAI Slightly Up in September

2025-12-22 13:37 By Joana Ferreira 1 min. read

The Chicago Fed National Activity Index (CFNAI) rose to -0.21 in September 2025 from -0.31 in August, according to delayed data, signaling a milder contraction in economic activity.

Despite the improvement, the index remained in negative territory for a sixth consecutive month.

Production-related indicators contributed -0.10 to the index, improving from -0.13 in August.

The sales, orders, and inventories component weakened slightly, contributing -0.07 compared with -0.05 previously, while the personal consumption and housing category also deteriorated to -0.06 from -0.03.

In contrast, employment-related indicators turned positive, contributing +0.01 in September after -0.11 in August, providing a modest offset to broader economic softness.



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CFNAI Slightly Up in September
The Chicago Fed National Activity Index (CFNAI) rose to -0.21 in September 2025 from -0.31 in August, according to delayed data, signaling a milder contraction in economic activity. Despite the improvement, the index remained in negative territory for a sixth consecutive month. Production-related indicators contributed -0.10 to the index, improving from -0.13 in August. The sales, orders, and inventories component weakened slightly, contributing -0.07 compared with -0.05 previously, while the personal consumption and housing category also deteriorated to -0.06 from -0.03. In contrast, employment-related indicators turned positive, contributing +0.01 in September after -0.11 in August, providing a modest offset to broader economic softness.
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