In edging up to 55.9 in February from 53.3 last month, the EBCI current conditions component moved further into expansionary territory and solidified a shift away from a handful of sub-50 readings late in 2018. Fewer respondents perceived a plateau this month, as the share of the panel that reported unchanged conditions declined. Although the share of those who indicated worse conditions ticked up, the proportion of those who saw better conditions outpaced them. Healthy activity on respondents’ books and some good economic news were only somewhat tempered by continued concern about instability from policymakers. 

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