Economy

Chicago Business Barometer Surprises with Six Point Gain
Written by Sandy Williams
April 29, 2015
The Chicago Business Barometer rose 6 points to 52.3 in April, beating analyst expectations for a reading of 50. The index fell to a five and a half year low in February before bouncing up five points to 46.3 in March.
The index grew in four of its five components in April with New Orders gaining by double digits. Order backlogs rose strongly but remained under the 50 neutral point. Gains were made in production and employment, which was at its highest level since January. Lead times for supplier deliveries shortened for the second month while days to source production material rose for the second month.
MNI Indicators reports that comments from service centers were more positive than manufacturers.
Inventories of finished goods were down slightly in response to the increase in orders. Prices paid contracted at a faster rate.
“The bounce back in activity at the start of Q2 is consistent with a resumption of normal activity following the poor weather and port strikes earlier in the year. In percentage terms, the April jump is similar to last year, although the level of activity is lower overall, “said MNI Indicators Chief Economist Philip Uglow.

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.