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.
Continued economic recovery from the shock of the COVID-19 pandemic kept the Q1/21 national Citizens Business Conditions Index (CBCI) in upbeat territory with a reading of 53.3. This compares with a Q4/20 reading of 56. 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.
The Citizens Business Conditions Index showed stability in Q2/20, decreasing from 60.8 to 60.3 despite the quarter beginning with many businesses reeling from the shutdown of the global economy caused by the COVID-19 pandemic.