The business climate improved in December by 1.3 to 59.5 points
The business climate in the Chicago area surprisingly brightened in December. The index value rose by 1.3 points to 59.5 points, as the regional purchasing managers association announced on Wednesday. Analysts had expected an average decrease to 56.3 points.
Despite the recent increase in the number of new corona infections in the USA, the indicator rose. The vaccinations that have started in the USA are apparently causing optimism. In addition, US President Donald Trump has cleared the way for a new stimulus package.
In May, in the first wave of the corona pandemic, the indicator fell to its lowest level since the early 1980s. In the meantime it has recovered significantly and is now well over 50 points. Values above this mark indicate economic growth, values below indicate a decline.
