US: Chicago Fed National Activity Index Drops to -1.09 in February

The Federal Reserve Bank of Chicago’s National Activity Index dropped to -1.09 in February from 0.75 (revised from 0.66) in January. This reading missed the market expectation of 0.21%.

“The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.17 in February from +0.34 in January,” the publication read.

“Thirty-four of the 85 individual indicators made positive contributions to the CFNAI in February, while 51 made negative contributions.”