SUV parts are fabricated in the stamping facility at the General Motors Assembly Plant on June 9, 2015. (Photo: Reuters)
The Chicago Fed National Activity Index (CFNAI) rose just +0.10 in March after a +0.98 gain in February, missing the +0.29 median forecast. Moderated growth in production- and employment-related indicators weighed down the index.
Three of the four broad categories of indicators that make up the CFNAI fell from February, but two of the four made positive contributions in March. The index’s three-month moving average, CFNAI-MA3, declined to +0.27 in March from +0.31 in February.
The CFNAI Diffusion Index, which is also a three-month moving average, ticked down slightly to +0.18 in March from +0.20 in February. Forty-four (44) of the 85 individual indicators made positive contributions to the CFNAI in March, while 41 made negative contributions.
Twenty-five indicators improved from February to March, while 59 indicators deteriorated and one was unchanged. Of the indicators that improved, nine made negative contributions.
