The Chicago Federal Reserve announced on Thursday the Chicago Fed national activity index (CFNAI), a weighted average of 85 different economic indicators, came in at +0.09 in June, down from a revised +0.26 in May (originally +0.29), pointing to a moderation in economic growth in the previous month.

At the same time, the index’s three-month moving average fell to +0.06 in June from +0.80 in May.

According to the report, three of the four broad categories of indicators used to construct the index made positive contributions in June, but two categories deteriorated from May. Production-related indicators made a marginal positive contribution of +0.01 to the CFNAI in June, down from +0.26 in May. Employment-related indicators contributed +0.09 to the CFNAI in June, down from +0.15 in the previous month. The contribution of the sales, orders and inventories category to the CFNAI improved to +0.06 in June from -0.04 in May. Elsewhere, the personal consumption and housing category contributed -0.08 to the CFNAI, up from -0.11 in May.