The Chicago Fed National Activity Index declined to -0.11 in February 2026 from a revised +0.20 in January, indicating a slowdown in economic growth. Production-related indicators contributed -0.01, down from +0.21 in the previous month. The contribution from the sales, orders, and inventories category was -0.01, unchanged from January. Employment-related indicators contributed -0.10, weakening from +0.02 in January. In contrast, the personal consumption and housing category contributed +0.01, improving from -0.02 in the prior month.