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
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Multi-family pullback drives housing starts to 5-year low in May
US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.
Architecture firms still struggling, ABI data shows
Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.