Vaccine Optimism Boosts 4Q20 Citizens Business Conditions Index™
The Index rose modestly to 61.4 in the final quarter of 2020, up from 61.2 at the end of the third quarter, showing a continuing rebound after the impact of the COVID-19 pandemic put downward pressure on the index earlier in 2020.
Some sectors continued to fare better than others, with this quarter’s report showing strength in the financial and energy sectors.
“The fourth quarter was a real turning point. With the vaccine news and a clear outcome for the presidential election, we saw a lot more confidence about the future among business leaders,” said
“The first quarter of 2021 has already seen major news events in
The Index is derived from a number of underlying components, many of which improved during the fourth quarter.
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The Institute for Supply Management (ISM) Manufacturing Index rose sharply for the quarter, helping to buoy the Citizens Index, while the Non-Manufacturing Index dipped. - Employment increased overall during the fourth quarter despite a disappointing jobs report for December. Wage growth was flat.
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Proprietary measures of business activity in the fourth quarter among Citizens’ more than 7,000 clients across
the United States were down slightly.
The Index draws from public information and proprietary corporate data to establish a unique view of business conditions across the country. An index value greater than 50 indicates expansion and points to positive business activity for the next quarter.
Citizens is a trusted strategic and financial adviser, consistently delivering clear and objective advice. The Citizens approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution, to help our clients enhance their business and reach their potential. For more information, please see the Index here or visit the Citizens website.
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frank.quaratiello@citizensbank.com
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