Business Conditions

The Chicago Fed National Activity Index composite of 85 economic data series suggests growth accelerated in September.

Housing starts fell in September and appear to be plateauing after rebounding from the boom-bust cycle in the early 2000s.

Economic data continue to be impacted by distortions from hurricanes, but the broad trend of very slow growth in industrial production appears to be intact.

Initial claims for unemployment insurance fell for the week ending October 7 and seem likely to drift back to their pre-storm levels.

The latest data on job openings suggest the labor market remains healthy and imply continued jobs growth in the coming months.

The headline data from the September jobs report was heavily distorted by Hurricanes Harvey and Irma but the underlying details suggest the labor market remains healthy.

September economic data are off to a strong start suggesting a positive outlook for consumer spending and the economy overall heading into the final quarter of 2017.

Business investment appears to be improving as orders for nondefense capital goods excluding aircraft, a proxy for business investment, rose 0.9 percent in August and shows a 3.3 percent gain year to date versus 2016.

A healthy labor market is supporting consumer confidence but some signs of weakness in housing are starting to appear.

The September Manufacturing Business Outlook Survey from the Philadelphia Fed suggests manufacturing in the mid-Atlantic region remains healthy.