The Chicago Business Barometer increased to 65.5 in May from 63.0 in April, the highest since October, as demand strengthened and the economy continued to recover from a weather related slowdown in Q1. The increase in the Barometer chimes with other economic data which has shown a continued recovery in the economy. Some members of the Federal Reserve’s rate setting panel, the FOMC, have cast doubt on whether the economy is on a path of sustained above trend growth, but this month’s Barometer certainly points to a strong recovery in the second quarter. The Barometer’s faster expansion was helped by a return to ... (full story)