FX.co ★ Chicago Fed Activity Index Turns Positive in January

The Chicago Fed National Activity Index rose to +0.18 in January 2026 from -0.21 in December, its highest reading since February 2025 and an indication of strengthening U.S. economic momentum at the start of the year. The gain was primarily driven by production-related indicators, which contributed +0.19 compared with -0.03 in the prior month, while employment-related indicators also improved, rising to +0.01 from -0.11. The sales, orders, and inventories category remained slightly negative at -0.02, though it improved from -0.04, and the personal consumption and housing category made a neutral contribution after subtracting -0.04 in December.