Survey Suggests Growth Picked Up in August
The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index moved up to +19 in August from +2 in July, suggesting that economic growth was above trend. The CFSBC Manufacturing Activity Index rose to +57 in August from +37 in July, and the CFSBC Nonmanufacturing Activity Index increased to –3 in August from –16 in the previous month.