FX.co ★ Chicago Fed Activity Index Down in August

The Chicago Fed National Activity Index (CFNAI) for the US edged down to -0.04 in August 2026 from a revised +0.08 in July, indicating a slight weakening in economic growth. Production-related indicators made a negative contribution of -0.07, compared with 0.00 in July. The contribution from the sales, orders, and inventories category fell to 0.00 in August from +0.15 in the prior month.

In contrast, employment-related indicators contributed +0.01, improving from -0.01 in July. The personal consumption and housing category also strengthened, contributing +0.01 in August after a -0.06 reading in July. Meanwhile, the index’s three-month moving average (CFNAI-MA3) rose to +0.01 in August from -0.01 in July, signaling that overall activity remained close to its historical trend.