Economy
Chicago Business Barometer Up 7.1 Points in April
Written by Sandy Williams
April 30, 2014
The Chicago Business Barometer increased at its fastest pace in six months to a reading of 63.0 in April from 59.9. The three month moving average registers just below 60 which is an indication of continued recovery for economy.
New orders and production led the rise in activity along with improvements in order backlogs and employment levels. Demand fluctuation has made employment volatile in recent months but April saw a rebound that offset March’s decline.
Supplier deliveries benefited from long awaited spring conditions resulting in faster delivery times but with expansion at a slower rate than other components in the index. Draw down of finished goods inventory slowed and was mostly neutral in April. Prices paid were at their lowest level in a year.
“Last month’s downturn appears to have been a blip with the Barometer increasing sharply in April to the highest since October 2013,” said Philip Uglow, Chief Economist at MNI Indicators. Looking at both March and April in aggregate leaves the pace of growth steady at around the 60 mark, which chimes with continued growth in the US economy.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
House committee blocks GOP budget proposal
The budget proposal has big implications for steel and manufacturing.
Manufacturing in New York state contracts again in May
Manufacturing activity in New York state declined for the third consecutive month, according to the May Empire State Manufacturing Survey from the Federal Reserve Bank of New York. Responding firms continue to forecast weaker business conditions in the coming months.
Chicago Business Barometer falls back in April, remains in contraction
The Chicago Business Barometer declined in April, reversing March’s gains, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.