Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.03 in November from –0.66 in October. All four broad categories of indicators used to construct the index increased from October, and two categories made positive contributions in November. The index’s three-month moving average, CFNAI-MA3, moved up to –0.20 in November from –0.26 in October.