US: Chicago Fed National Activity Index declines to 0.01 in May

The Federal Reserve Bank of Chicago’s National Activity Index fell to 0.01 in May from 0.4 (revised from 0.47) in April. This data shows that the US economy expanded at its historical average in May.

“The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.27 in May from +0.39 in April.,” the Chicago Fed further noted in its publication. “Forty-seven of the 85 individual indicators made positive contributions to the CFNAI in May, while 38 made negative contributions.”