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After economists predicted a decline, Chicago biz barometer shot up to record highs

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A measure of business conditions in the Chicago region had another strong reading in May, reaching its highest level in 47 years, a trade group said Friday.

The Chicago Business Barometer, also known as the Chicago PMI, jumped to 75.2 in May from 72.1, which had been the highest reading since December 1983.

Economists polled by the Wall Street Journal forecast decline to a 68 reading.

Readings over 50 signal expansion.

The surveyed economists apparently read the Tribune editorial page.

posted by Rich Miller
Saturday, May 29, 21 @ 2:11 am

Comments

‘The surveyed economists apparently read the Tribune editorial page.‘
After which the Trib heralded a doubling of its readership

Comment by DEE Saturday, May 29, 21 @ 6:45 am
Strong economic activity. Rising wages. Inflation. It’s just like it was the 70s again.

Comment by Ducky LaMoore Saturday, May 29, 21 @ 7:09 am
All day long I’m surrounded by people who say they’re moving to Florida or Tennessee the first chance they get because of Illinois’s taxes. When I ask why they don’t leave now it essentially comes back to this, that they’re making too much to leave.

Comment by Proud Papa Bear Saturday, May 29, 21 @ 8:15 am
Good for Chicago for denying the doomsayers another “I told you so.” Those economists have got to lighten up.

Comment by Nearly Normal Saturday, May 29, 21 @ 9:48 am
This is good news. Seeing lots of infrastructure projects and improvements, which is literally laying the groundwork for future economic growth. That’s one of the key pro-growth ingredients, not stripping union rights and exploiting the poorest communities so that rich “job creators” deign to invest in them, which is what Trib editorial board types want.

Comment by Grandson of Man Saturday, May 29, 21 @ 10:18 am
Don’t forget to give proper credit to the more obscure and lightly read segment of the Chicago gloom and doom media corps. like Crains’

Comment by Annonin' Saturday, May 29, 21 @ 11:11 am
https://capitalandmain.com/american-workers-earn-about-half-what-they-deserve

Comment by Dotnonymous Saturday, May 29, 21 @ 11:56 am
If IL Democrats are to blame when the economy is weak, then should they get credit when it’s booming?
Silly question.

Comment by anon2 Saturday, May 29, 21 @ 12:45 pm
Don’t get too excited about short term growth after locking down the economy.

Comment by Santa Saturday, May 29, 21 @ 8:00 pm

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