Survey Suggests Growth Picked Up in January
The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index increased to –27 in January from –40 in December, suggesting that economic growth was well below trend. The CFSEC Manufacturing Activity Index increased to –16 in January from –44 in December, and the CFSEC Nonmanufacturing Activity Index increased to –31 in January from –38 in the previous month.