Chicago Fed National Activity Index showed improvement in July
Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.27 in July from +0.05 in June.
Three of the four broad categories of indicators that make up the index increased from June, and three of the four categories made positive contributions to the index in July.
The index’s three-month moving average increased to –0.10 in July from –0.19 in June. July’s three-month index suggests that growth in national economic activity was slightly below its historical trend.