The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index rose to +15 in October from -14 in September, indicating above-trend economic growth after a weak prior month.

• The Manufacturing Activity Index climbed to +14 (Sep: -10), showing a clear improvement in factory conditions.

• The Nonmanufacturing Activity Index also strengthened to +16 (Sep: -19), signaling broader recovery across service sectors.

• Outlooks for the next 12 months improved but remained cautious, with 43% of respondents expecting a decrease in economic activity.

• Current hiring activity increased, but hiring expectations for the next year declined, keeping both hiring indexes negative.

• Capital spending expectations improved but stayed negative overall, reflecting continued investment restraint.

• Labor cost pressures eased while nonlabor cost pressures rose; both remained in contractionary territory, suggesting cost conditions remain tight but uneven.