US: Chicago Fed National Activity Index was –0.26 in May, down from +0.57 in April

Eren Sengezer FXStreet

"Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved down to –0.26 in May from +0.57 in April," said the Federal Reserve Bank of Chicago on Monday.

Key quotes:

Three of the four broad categories of indicators that make up the index decreased from April, and three of the four categories made negative contributions to the index in May
The index’s three-month moving average, CFNAI-MA3, declined to +0.04 in May from +0.21 in April
Employment-related indicators contributed –0.02 to the CFNAI in May, down from +0.12 in April
The contribution of the personal consumption and housing category to the CFNAI edged down to –0.09 in May from –0.07 in April

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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