Led by improvements in production-related indicators, the Federal Reserve Bank of Chicago’s national activity index rose to 0.11 in April from -0.44 in March. Of the four broad categories of economic indicators that make up the index, the production and income category and the sales, orders, and inventories category made positive contributions in April. The index’s three-month moving average ticked down to -0.06 in April from 0.02 in March, falling below zero for the first time since November 2011, suggesting that growth in national economic activity was near its historical trend and should have create little inflationary pressure on the economy, according to a news release.