The Chicago Fed National Activity Index for January fell to 0.22 from a revised positive 0.54 reading in December, while the three-month moving average (CFNAI-MA3) improved to 0.14 in January from a revised 0.06 in December, the Federal Reserve Bank of Chicago reported Tuesday.

In January 2011, the activity index was 0.27, while the CFNAI-MA3 stood at 0.15.

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