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Financial News: Chicago Fed National Activity Index Unexpectedly Rises To

Chicago Fed National Activity Index Unexpectedly Rises To +0.05 In February

03/25/2024 - 09:16:00 (RTTNews)

(RTTNews) - The Federal Reserve Bank of Chicago released a report on Monday showing an unexpected increase by its index of U.S. national economic activity.

The report said the Chicago Fed National Activity Index rose to a positive 0.05 in February from a revised negative 0.54 in January, with a positive reading indicating above-average economic growth.

The increase surprised economists, who had expected the national activity index, to fall to a negative 0.50 from the negative 0.30 originally reported for the previous month.

The Chicago Fed said all four broad categories of indicators used to construct the index increased from January, and three categories made positive contributions in February.

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