Whoops, back down:
Philadelphia Fed Business Outlook Survey
Chicago Fed National Activity Index
If this is indeed falling because benefits have been made that much harder to get it means this channel of increased govt expenditures is disabled, and the cycle will get that much worse before it gets better:
The labor market once again, against a background of soft data, shows itself as the economy’s leading positive. Initial claims fell 6,000 in the April 16 week to a much lower-than-expected 247,000. This is the lowest level since 1973 when, of course, the size of the labor market was much smaller. The 4-week average is down 4,500 to 260,500.