Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.27 in July from –0.25 in June. All four broad categories of indicators used to construct the index made positive contributions in July, and all four categories improved from June. The index’s three-month moving average, CFNAI-MA3, was unchanged at –0.09 in July.
Chicago Fed National Activity Index, August 2022
Index Points to a Pickup in Economic Growth in July