This article first appeared on Floating Path.

The Chicago Fed’s National Activity Index (FNAI) was a reading of -0.18 in the month of October. This is a decrease from September revised reading of +0.18, and indicates that the index is below its historical trend.

Three of the four broad categories of indicators that make up the index decreased from September. 41 of the 85 individual indicators made positive contributions to the CFNAI in October, while 44 made negative contributions. 44 indicators improved from September to October, while 40 indicators deteriorated and one was unchanged. Of the indicators that improved, 12 made negative contributions.