Federal Reserve bank of Chicago's national activity index picks up in April

A widely-followed survey of economic activity in the States ticked higher last month, as indicators linked to production offset weakness in those for personal consumption and housing.

The Federal Reserve bank of Chicago's national activity index (CFNAI) improved from a reading of 0.32 for March to 0.34 in April.

Critically, production-related indicators contributed 0.27 points to the latest print for the Chicago Fed's index, up from 0.19 points in the month before, helped manufacturing industrial output.

Indicators for employment also perked-up, contributing 0.10 points versus 0.04 in March.

Meanwhile, the contribution of the personal consumption and housing category of indicators slipped from 0.02 in March to -0.05 for April.

To take note of, the three-month moving average for the CFNAI rose back towards the levels seen at the end of 2017, improving from a reading of 0.23 for March to 0.46 for last month.