Chicago Fed natl activity index rises in February

CHICAGO, March 26 (Reuters) - The Federal Reserve Bank of
Chicago on Monday said its gauge of the national economy rose
in February, boosted mostly by strength in production
indicators.

The Chicago Fed said its National Activity Index rose to
0.03 in February from an upwardly revised -0.72. It was
previously reported as -0.74 in January.

The three-month moving average of the index was negative
for a sixth straight month, but rose to -0.02 from an upwardly
revised -0.23. It was originally reported as -0.29 in January.

The Chicago Fed said the jump in the three-month average
toward zero suggests growth in national economic activity was
near its historical trend and that inflation pressures over the
next year are balanced.

Stronger production-related indicators reflected a 1
percent increase in total industrial production and rising
capacity utilization on the month.

The three other broad categories of indicators (employment,
consumption and housing/sales) were all negative.

Employment indicators were hurt by slower job creation in
February, even as the national jobless rate fell.

Overall, 38 of the 85 individual indicators tracked by the
Chicago Fed made positive contributions in February while 47
made negative contributions. Some 51 indicators improved in
February from January while 34 indicators deteriorated.

Following are details of the index:

Monthly index:

Feb 07 Jan 07 (prev) Feb 06

0.03 -0.72 -0.74 -0.01

Three-month moving average:

Feb 07 Jan 07 (prev) Feb 06

-0.02 -0.23 -0.29 +0.34

NOTES:

Zero values in the index indicate a national economy
expanding at historical trends, while negative values indicate
below-trend growth and positive values signal growth above
trend, the Chicago Fed said.

The 85 economic indicators that comprise the Chicago Fed's
index are drawn from four categories: production and income;
employment, unemployment and hours; personal consumption and
housing; and sales, orders and inventories.