The Chicago Fed National Activity Index (CFNAI) fell to -0.03 in March from +0.24 in February, indicating a moderation in economic activity.

• The CFNAI-MA3 (3-month moving average) declined to -0.01 from +0.12.
• Production-related indicators contributed -0.09 (down from +0.25).
• Sales, orders, and inventories contributed -0.03 (down from +0.01).
• Employment-related indicators slightly improved to -0.01 (from -0.02).
• Personal consumption and housing contributed +0.11 (up from 0.00).