Economy
July 1, 2017
Chicago Business Barometer Jumps in June
Written by Sandy Williams
The Chicago Business Barometer took a giant leap in June, expanding from 59.4 in May to 65.7. The Barometer, which is designed to predict future changes in gross domestic product, was at its highest level since 2014. The average score for second quarter was 61.1, significantly stronger than the average of 55.1 in Q1.
The new orders score accelerated 10.5 points to 71.9 for its highest reading since May 2014. Production, backlogs and supplier delivery times all grew significantly in June. Order backlogs averaged a score of 52.5 for second quarter after contracting for the past nine quarters.
