US: Chicago Fed National Activity Index was –0.26 in May, down from +0.57 in April

"Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved down to –0.26 in May from +0.57 in April," said the Federal Reserve Bank of Chicago on Monday.

Key quotes:

• Three of the four broad categories of indicators that make up the index decreased from April, and three of the four categories made negative contributions to the index in May
• The index’s three-month moving average, CFNAI-MA3, declined to +0.04 in May from +0.21 in April
• Employment-related indicators contributed –0.02 to the CFNAI in May, down from +0.12 in April
• The contribution of the personal consumption and housing category to the CFNAI edged down to –0.09 in May from –0.07 in April