The Chicago Fed National Activity Index for February decreased to negative 0.04 from a revised negative 0.01 reading in January, while the three-month moving average climbed to positive 0.11 in February from January’s revised positive 0.05, the Federal Reserve Bank of Chicago reported Monday. Housing and consumption-related indicators once again were weak.
In February 2010, the index was negative 0.54, while the CFNAI-MA3 was negative 0.32 in the month.
The January index was originally reported as negative 0.16, while the January CFNAI-MA3 was first reported as negative 0.10.
The positive reading for the index indicates national economic growth was slightly above its historical trend, and suggests limited inflationary pressure from economic activity in the coming year, the Chicago Fed said.