Chicago Business Barometer Upwardly Revised To 60.8 In December

(RTTNews) - MNI Indicators released a report on Thursday showing that the Chicago business barometer came in higher than previously estimated in December as a result of the annual seasonal adjustment recalculation.

The report said the Chicago business barometer for December came in at 60.8 compared to the previously reported 59.1. A reading above 50 indicates growth in Chicago-area business activity.

MNI Indicators said the barometer was revised lower in the first quarter but was upwardly revised in both the third and fourth quarters, pointing to an even stronger second half than initially estimated.

The barometer was revised higher in seven out of the past twelve months, including October when it rose to the highest since March of 2011, MNI Indicators added.