The Chicago Federal Reserve announced on Monday the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, came in at 0.24 in April, down from an unrevised 1.71 in March, pointing to a slower expansion in economic activity than in the previous month.

At the same time, the index’s three-month moving average dropped to +0.07 in April from +0.35 in March.

According to the report, three of the four broad categories of indicators used to construct the index made positive contributions in April, but three categories deteriorated from March. Production-related indicators made a positive contribution of +0.18 to the CFNAI in April, down from +0.92 in March. Employment-related indicators contributed +0.05 to the CFNAI in April, down from +0.38 in the previous month. The contribution of the sales, orders, and inventories category to the CFNAI improved to +0.07 in April from -0.09 in March. Meanwhile, the contribution of the personal consumption and housing category to the CFNAI worsened to -0.06 in April from +0.50 in March.