The MNI Chicago Business Barometer unexpectedly rose to 67.6 in December, easily beating the forecast and hitting the highest level since March 2011. The median economic forecast for the month was 62.5, down from 63.9 in November.
“Sentiment among businesses started 2017 in good shape and only impressed more as the year progressed,” said Jamie Satchi, Economist at MNI Indicators. “December’s result secured the MNI Chicago Business Barometer’s first full year of expansion since 2014 and with New Orders ending the quarter in fine shape there is every chance this form could be carried over into 2018.”
On a quarterly basis, the MNI (Market News International) Chicago Business Barometer rose to 65.9 in the fourth quarter (Q4) from 61.0 in Q3, the best quarterly performance since Q1 2011. It’s only the third time in the last decade there have been three consecutive above-60 readings in the Oct-Dec period