Survey Suggests Growth Slowed in April
The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index decreased to –26 in April from +3 in March, suggesting that economic growth was well below trend. The CFSEC Manufacturing Activity Index decreased to –21 in April from +9 in March, and the CFSEC Nonmanufacturing Activity Index decreased to –29 in April from –2 in the previous month.