Survey Suggests Growth Picked Up in July
The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index increased to –30 in July from –52 in June, suggesting that economic growth was well below trend. The CFSEC Manufacturing Activity Index increased to –48 in July from –50 in June, and the CFSEC Nonmanufacturing Activity Index increased to –18 in July from –52 in the previous month.