Economy
Chicago Business Barometer Slips for the 2nd Month
Written by Sandy Williams
December 31, 2013
The Chicago Business Barometer slipped 3.9 points to 59.1 in December. It is the second consecutive month that the barometer has fallen but the reading well above 50 indicates expansion is still strong although moderating.
New Orders, Production and Order Backlogs continued to expand but at a slower rate. Employment fell to just above the neutral 50 mark for the month.
Supplier deliveries rose to its highest level since June 2011 but continued lengthening of Supplier Deliveries was viewed as potential detriment to sustained growth.
“The Chicago Business Barometer finally turned a corner in 2013 having been in decline for the previous two years and ended the year with fourth quarter growth at the highest for more than two years,” said Philip Uglow, Chief Economist at MNI Indicators. “While activity dipped a little in December, businesses continued to report firm growth in Production and New Orders.”
{amchart id=”111″ Chicago Business Barometer Index}
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
Beige Book finds growing economic, policy uncertainty
All districts reported "hesitancy and a cautious approach to business and household decisions,” according to the Beige Book.
ISM: Manufacturing continues to contract in May
May marks the third consecutive month US manufacturing activity declined, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Chicago PMI decreases 4.1 points in May
The Chicago Business Barometer reports that decreases in new orders, order backlogs, and softer production pulled the index down by 4.1-points to 40.5, in May.
Architecture firms struggle through April
For the third month in a row, architecture firms reported a reduction in billings through April, according to the latest Architecture Billings Index release.