By Xavier Fontdegloria
Business activity in the Chicago area accelerated in January for the second consecutive month, signaling that growth momentum extended into 2022, according to data from a survey released Monday by MNI Indicators.
The Chicago Business Barometer increased to 65.2 in January from a revised 64.3 in December, above the 62.3 consensus forecast from economists polled by The Wall Street Journal and a three-month high.
The barometer is compiled after surveying companies in the Chicago area to assess business conditions. Readings above 50 point to expansion of activity, while readings below 50 indicate contraction.
The barometer is formed of five components: new orders, order backlogs, production, supplier deliveries and employment.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
(END) Dow Jones Newswires
01-31-22 1017ET
