Survey Suggests Growth Picked Up in August
The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index increased to –30 in August from –51 in July, suggesting that economic growth was well below trend. The CFSEC Manufacturing Activity Index increased to –45 in August from –52 in July, and the CFSEC Nonmanufacturing Activity Index increased to –22 in August from –51 in the previous month.