Steve Grzanich has the business news of the day with the Wintrust Business Minute.

A new report says retails sales in the Chicago area rose nearly 5% in 2024 compared to the previous year. Crain’s reports local consumers spent nearly $178 billion in 2024. The numbers were compiled by a local consulting firm that analyzes sale tax data from the Illinois Department of Revenue. Consumers spent the most on clothes and online purchases but spending also went up for general merchandise, apparel and miscellaneous items like sporting goods, pet supplies, books and music. People spent less on buying cars and gasoline. High interest rates led to fewer car sales. 

Also, a Chicago medical device and technology startup has raised $30 million in a Series C round of fund raising. Listen for more below: