Survey Suggests Growth Picked Up in June
The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index increased to +3 in June from –32 in May, suggesting that economic growth was near trend. The CFSBC Manufacturing Activity Index moved up to +31 in June from –19 in May, and the CFSBC Nonmanufacturing Activity Index increased to −10 in June from –39 in the previous month.