The Chicago Fed National Activity Index (CFNAI) came in at -0.15 for March, up from the downwardly revised -0.31 in April. The improvement was led largely by employment indicators.
| Prior | Revised | Actual | |
| CFNAI | -0.29 | -0.31 | -0.15 |
| 3-Month Moving Average | -0.18 | -0.18 | -0.24 |
Released on 4/22/2019 8:30 AM EST for March, 2019
The index’s three-month moving average, CFNAI-MA3, ticked down to –0.24 in March from –0.18 in February. The CFNAI Diffusion Index, which is also a three-month moving average, decreased to –0.18 in March from –0.08 in February.
Thirty-seven (37) of the 85 individual indicators made positive contributions to the CFNAI in March, while 47 made negative contributions and one made a neutral contribution.
Forty-eight (48) indicators improved from February to March, while 37 indicators worsened. Of the indicators that improved, 23 made negative contributions.
