Economy
July 31, 2017
Chicago Business Barometer Tumbles in July
Written by Sandy Williams
The Chicago Business Barometer dropped nearly 7 points in July, falling to 58.9 from 65.7 in June and ending a run of five consecutive increases. All components of the indicator receded, but remained above 12-month averages.
The July Barometer “should be viewed in the context of the underlying, upward trend in business sentiment witnessed since early 2016,” said Jamie Satchi, economist at MNI Indicators. Despite the reversal from June’s reading, key indicator averages suggest continued robust confidence among U.S. firms, he added.
