The Chicago Fed National Activity Index (CFNAI) moved down to +0.44 in March from +0.54 in February. Three of the four broad categories of indicators used to construct the index made positive contributions in March, but two categories deteriorated from February. The index’s three-month moving average, CFNAI-MA3, increased to +0.57 in March from +0.43 in February.
Chicago Fed National Activity Index, April 2022
Index Points to a Slight Decrease in Economic Growth in March