Survey Suggests Growth Picked Up in December
The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index increased to –19 in December from –31 in November, suggesting that economic growth was below trend. The CFSBC Manufacturing Activity Index increased to –30 in December from –37 in November, and the CFSBC Nonmanufacturing Activity Index increased to –13 in December from –24 in the previous month.