FX.co ★ Chicago Fed National Activity Index Falls in April

In April 2025, the Chicago Fed National Activity Index (CFNAI) decreased to -0.25, down from a revised +0.03 in March. This downturn suggests a contraction in overall economic activity, primarily influenced by negative contributions from three out of the four major categories. Specifically, indicators related to production contributed -0.18, a decline from -0.07 the previous month. Additionally, the sales, orders, and inventories category negatively impacted the index with a contribution of -0.04, as opposed to +0.06 in March. The personal consumption and housing sector also saw a decrease, registering -0.04 compared to the previous +0.09. In contrast, employment-related indicators showed improvement, shifting from a -0.05 contribution in March to a neutral stance in April.