Chicago Fed Activity Index Improves in June

2026-07-23 12:39 By Isabela Couto 1 min. read

The Chicago Fed National Activity Index (CFNAI) rose to -0.02 in June 2026 from -0.19 in May, signaling a modest improvement in US economic activity.

Two of the four broad categories made negative contributions to the index.

The production-related category contributed -0.05, down from -0.03 in May, while employment-related indicators remained unchanged at -0.04.

In contrast, the sales, orders, and inventories category improved to +0.01 from -0.09, and the personal consumption and housing category rose to +0.05 from -0.03.

Meanwhile, the three-month moving average of the index (CFNAI-MA3) increased to -0.05 in June from -0.10 in May.



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Chicago Fed Activity Index Improves in June
The Chicago Fed National Activity Index (CFNAI) rose to -0.02 in June 2026 from -0.19 in May, signaling a modest improvement in US economic activity. Two of the four broad categories made negative contributions to the index. The production-related category contributed -0.05, down from -0.03 in May, while employment-related indicators remained unchanged at -0.04. In contrast, the sales, orders, and inventories category improved to +0.01 from -0.09, and the personal consumption and housing category rose to +0.05 from -0.03. Meanwhile, the three-month moving average of the index (CFNAI-MA3) increased to -0.05 in June from -0.10 in May.
2026-07-23
Chicago Fed National Activity Index Falls in May
The Chicago Fed National Activity Index (CFNAI) decreased to –0.10 in May 2026, from an upwardly revised +0.19 in April. Two of the four broad categories of indicators used to construct the index decreased from April, and three categories made negative contributions in May. Production-related indicators contributed –0.04 in May, down from +0.23 in the prior month, while employment-related indicators contributed –0.04 (down from +0.05). The personal consumption and housing category's contributed –0.04, remaining unchanged from April. Meanwhile, the sales, orders, and inventories category's contributed positively by 0.02 (up from –0.04).
2026-06-25
Chicago Fed National Activity Index Rebounds in April
The Chicago Fed National Activity Index (CFNAI) rose to +0.14 in April 2026 from a revised –0.15 in March, marking its strongest reading since March 2025. The rebound pointed to improving economic momentum, driven largely by a sharp recovery in production activity. Two of the four broad categories used to construct the index improved from the previous month, while two categories made positive contributions overall in April. Production-related indicators added +0.18 (up from –0.13 in March), and sales, orders, and inventories contributed +0.02 (up from –0.03). Employment-related indicators subtracted –0.02 (down from neutral in March), and personal consumption and housing subtracted –0.04 (also down from neutral).
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