The Chicago Fed National Activity Index (CFNAI) The CFNAI edged up to -0.15 in July from -0.23 in June. The index’s 3 month moving average, CFNAI-MA3, increased to -0.15 in July from -0.24 in June marking its fifth consecutive reading below zero. July’s CFNAI-MA3 suggests that growth in national economic activity was below its historical [...]