The Chicago Fed National Activity Index (CFNAI) was +0.27 in December, up slightly from +0.21 in November. 

Two of the four broad categories of indicators that make up the index increased from November, and two of the four categories made positive contri­butions to the index in December. The index’s three-month moving average, CFNAI-MA3, edged up to +0.16 in December from +0.12 in November.

 The CFNAI Diffusion Index, which is also a three-month moving average, edged up to +0.14 in December from +0.11 in November. Forty-six of the 85 individual indicators made positive contributions to the CFNAI in December, while 39 made negative contributions. Forty indica­tors improved from November to December, while 44 indicators deteriorated and one was unchanged. Of the indicators that improved, ten made negative contributions.

The contribution from production-related indicators to the CFNAI increased to +0.22 in December from +0.02 in November. Manufacturing industrial production rose 1.1 percent in December after edging up 0.1 percent in November. The sales, orders, and inven­tories category made a neutral contribution to the CFNAI in December, down from +0.12 in November. The Institute for Supply Management’s Manufacturing New Orders Index decreased to 51.1 in December from 62.1 in November.