Survey Suggests Growth Picked Up in January
The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index increased to +6 in January from –24 in December, suggesting that economic growth was near trend. The CFSBC Manufacturing Activity Index moved up to +45 in January from +36 in December, and the CFSBC Nonmanufacturing Activity Index rose to –11 in January from –54 in the previous month.