Chicago Fed Activity Index Falls in July

2026-08-24 12:47 By Luisa Carvalho 1 min. read

The Chicago Fed National Activity Index (CFNAI) edged down to -0.08 in July 2026 from 0.06 in June, signaling a slight deterioration in US economic activity.

Three of the four broad categories of indicators used to construct the index decreased from June, and two categories made negative contributions in July.

Production-related indicators contributed 0.01 points, down from 0.04 points in June, while the sales, orders and inventories category contributed 0.02 points, also easing from 0.04 points.

Employment-related indicators improved to a negative 0.01-point contribution from negative 0.05 points in June.

Meanwhile, the personal consumption and housing category weakened sharply, contributing negative 0.09 points after adding 0.04 points in June. The index's three-month moving average, CFNAI-MA3, decreased to –0.04 in July from +0.01 in June.



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Chicago Fed Activity Index Falls in July
The Chicago Fed National Activity Index (CFNAI) edged down to -0.08 in July 2026 from 0.06 in June, signaling a slight deterioration in US economic activity. Three of the four broad categories of indicators used to construct the index decreased from June, and two categories made negative contributions in July. Production-related indicators contributed 0.01 points, down from 0.04 points in June, while the sales, orders and inventories category contributed 0.02 points, also easing from 0.04 points. Employment-related indicators improved to a negative 0.01-point contribution from negative 0.05 points in June. Meanwhile, the personal consumption and housing category weakened sharply, contributing negative 0.09 points after adding 0.04 points in June. The index's three-month moving average, CFNAI-MA3, decreased to –0.04 in July from +0.01 in June.
2026-08-24
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