Would you say that your outlook for your business is in positive territory right now? Or maybe it's just positive compared to a couple of months ago?
The latest survey of business conditions conducted by the Federal Reserve Bank of Chicago shows that business leaders in the region are "surprisingly upbeat about recovering from the COVID-19 pandemic," our sister paper Crain's Chicago Business reports, adding that "economic activity in the Midwest not only rebounded in June, but was the best it's been since late 2018."
The survey asks leaders to rate the local economy on a scale from +3 to -3. Those numbers are combined into an index. Anything better than 0 shows that growth is greater than historical rates.
In June, manufacturers placed the comeback at a 31. That compares to -95 in April and -21 in May.
At the same time, however, business leaders expected the rate of hiring and spending on capital expenditures will slow during the next 12 months.