• Prior was -0.30 (revised to -0.54)
  • All four broad categories of indicators used to construct the index increased from January
  • Forty-six of the 85 individual indicators made positive contributions to the CFNAI in February, while 39 made negative contributions.

The Chicago Fed National Activity Index is designed to gauge overall economic activity and related inflationary pressure in the US economy. The CFNAI is a weighted average of 85 already-released monthly indicators of national economic activity. These indicators are drawn from four broad categories: production and income; employment, unemployment, and hours; personal consumption and housing; and sales, orders, and inventories.

Because it's an aggregate indicator, it's not a market mover but it's useful to visualize the trajectory of the economy. However if you look at the past year or so, it's all noise.