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Chicago Fed Survey of Economic Conditions, May 2023
Survey Suggests Growth Increased Slightly in May

The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index increased to –30 in May from –37 in April, suggesting that economic growth was well below trend. The CFSEC Manufacturing Activity Index increased to –26 in May from –56 in April, but the CFSEC Nonmanufacturing Activity Index decreased to –32 in May from –23 in the previous month.

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