FX.co ★ Chicago Fed Activity Index Improves in June

The Chicago Fed National Activity Index (CFNAI) edged up to -0.02 in June 2026 from -0.19 in May, indicating a modest strengthening in U.S. economic activity. Two of the index’s four broad categories continued to weigh on growth. The production-related category contributed -0.05 in June, a deterioration from -0.03 in May, while employment-related indicators were unchanged at -0.04. By contrast, the sales, orders, and inventories category improved to +0.01 from -0.09, and the personal consumption and housing category moved up to +0.05 from -0.03. The three-month moving average of the index (CFNAI-MA3) also firmed, rising to -0.05 in June from -0.10 in May.