The January Chicago Fed National Activity Index narrowed to negative 3.45 from a revised negative 3.65 reading in December, originally reported as negative 3.26.
Meanwhile, the three-month moving average, or CFNAI-MA3, dropped to negative 3.41 in January from December’s revised negative 2.70 reading, initially reported as negative 2.40, the Federal Reserve Bank of Chicago reported yesterday.
In January 2008, the index was negative 0.55, as was the CFNAI-MA3.
Production and income category of indicators contributed negative 1.35 to the index, compared to a contribution of negative 1.53 in the previous month, while employment-related indicators contributed negative 1.35 after providing a negative 1.29 in December, the Fed said.
January consumption and housing-related data contributed negative 0.62 in the month, after contributing negative 0.64 in December, while sales, orders, and inventories contributed negative 0.13, after a negative 0.19 contribution in the previous month.
