Search Banking Research Events Education Region & Community Careers About Us Last Updated: 11/10/21 Chicago Fed Survey of Business Conditions (CFSBC) The Chicago Fed Survey of Business Conditions (CFSBC) is a survey of business contacts located in the Seventh Federal Reserve District. The Chicago Fed produces diffusion indexes based on the quantitative questions in the survey that are released at 10:00 a.m. ET on scheduled days, normally in the second week of each calendar month. Latest CFSBC Release Survey Suggests Little Change in Growth Again in October The Chicago Fed Survey of Business Conditions (CFSBC) Activity Index increased to –1 in October from –3 in September, suggesting that economic growth was near trend. JavaScript chart by amCharts Download the indexes. Background The CFSBC diffusion indexes are derived from survey questions that cover product demand, hiring, capital spending and input costs. Respondents report how these aspects of their businesses have changed over the past month (or are expected to change in the next 12 months) on a seven-point scale. Each diffusion index is calculated as the difference between the number of respondents with answers above their respective average responses and the number of respondents with answers below their respective average responses, divided by the total number of respondents. The index is then multiplied by 100 so that it ranges from +100 to −100. Respondents with no prior history of responses are excluded from the calculation. As an example, for the CFSBC Activity Index, if 30 respondents report above-average product demand growth, 20 respondents report below-average demand growth and there are 100 total respondents, the index will have a value of +10. On average, there are about 120 survey respondents, representing businesses from a wide range of industries with operations in the Seventh District. For a detailed description of the diffusion indexes and their properties, see this Economic Perspectives article. Background Slides Contact Us Thomas Walstrum (312) 322-4244 E-Mail Subscribe Enter your email address to receive notifications when new CFSBC data become available. Email Address Submit Participate in the CFSBC Business leaders with operations in Illinois, Iowa, Indiana, Michigan, or Wisconsin are invited to participate in the CFSBC. Participate Related Topics CFSBC Past Releases CFSBC Release Dates CFSBC FAQs On This Site Can the CFSBC Activity Index Nowcast U.S. Real GDP Growth? Using the Federal Reserve’s Beige Book to Track Economic Activity The CFSBC: Quantifying the Seventh District’s Beige Book Report Banking Research Events Education Region & Community Careers About Us Contact Us Newsroom Museum Subscribe Style Guide Follow Us The Fed Apps Our Values Integrity Respect Responsibility Excellence Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322 Copyright © 2021. All rights reserved. Please review our Privacy Policy | Legal Notices } } } } } }