The Chicago Fed Survey of Economic Conditions (CFSEC) Activity Index declined to -3 in June from -1 in May, indicating that economic growth remained near trend but with slightly weaker momentum.

• The Manufacturing Activity Index rebounded to +6 (from -21), while the Nonmanufacturing Index fell to -9 (from +13).

• 53% of respondents expect a decrease in economic activity over the next 12 months, with the overall economic outlook deteriorating.
• Hiring pace decreased further; both current and expected hiring indexes remained negative.

• Capital spending expectations rose but stayed in negative territory.

• Labor and nonlabor cost pressures both declined and remained in contraction territory.