Chicago Fed survey splits as factory activity rises and services fall
The Chicago Fed's broad activity index fell to minus 5 in September from plus 5 in August, a reading the bank says is consistent with growth near trend.
The split is sharp. The survey put manufacturing activity at plus 25, up from plus 19, while nonmanufacturing activity fell to minus 20 from minus 2.
Current and planned hiring indexes both improved but remained below zero. Expected capital spending moved above zero, and 33 percent of respondents expected United States economic activity to increase over the next 12 months.
These are diffusion indexes measured against each respondent's historical average. They are not estimates of regional output.
