Citizens reported that its Citizens Business Conditions Index (CBCI) dropped to a mark of 54.4 for Q4/21, down from 57.8 at the end of September but still in expansionary territory.
Citizens reported that the Citizens Business Conditions Index fell slightly to a mark of 57.1 in Q3/21 from Q2/21’s reading of 57.4. Despite the decrease, Citizens said the third quarter’s reading reflects continued strength in the recovery since COVID-19 stunned the economy and markets in 2020.
The strength of the economic recovery pushed this past quarter’s national Citizens Business Conditions Index (CBCI) to 57, its highest reading in three years and up five points compared to last year. A reading above 50 is considered expansionary.
The national Citizens Business Conditions Index posted a second consecutive quarter of gains as optimism fueled by COVID-19 vaccine announcements and increased election certainty began to outweigh concerns about spiking pandemic cases.