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Chicago Fed National Activity Index, March 2021
Index Suggests Economic Growth Declined in February

Led by declines in indicators related to production and personal consumption and housing, the Chicago Fed National Activity Index (CFNAI) fell to –1.09 in February from +0.75 in January. Two of the four broad categories of indicators used to construct the index made negative contributions in February, but all four categories decreased from January. The index’s three-month moving average, CFNAI-MA3, decreased to –0.02 in February from +0.46 in January.

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