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- US: Chicago Fed National Activity Index drops to -0.19 in February vs. 0 expected
US: Chicago Fed National Activity Index drops to -0.19 in February vs. 0 expected
- Chicago Fed National Activity Index declined more than expected in February.
- The US Dollar Index recovers toward 102.50 after the data.
The Federal Reserve Bank of Chicago's National Activity Index (CFNAI) declined to -0.19 in February from 0.23 in January. This reading came in weaker than the market expectation of 0.
"The CFNAI Diffusion Index, which is also a three-month moving average, moved up to +0.02 in February from –0.07 in January," the Chicago Fed noted in its publication. "Thirty-eight of the 85 individual indicators made positive contributions to the CFNAI in February, while 47 made negative contributions."
Market reaction
The US Dollar Index stages a modest rebound in the early American session and was last seen losing 0.12% on the day at 102.40.
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