Survey Suggests Growth Slowed in August
The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index decreased to –2 in August from +14 in July, suggesting that economic growth was near trend. The CFSBC Manufacturing Activity Index moved down to +8 in August from +19 in July, and the CFSBC Nonmanufacturing Activity Index decreased to –5 in August from +13 in the previous month.