Economy
Chicago Business Barometer Improves in February
Written by Sandy Williams
February 28, 2020
The Chicago Business Barometer nearly emerged from contraction in February. The manufacturing index, produced by MNI Indicators, gained 6.1 points to post 49.0, the highest level since August 2019. The three-month average for the index edged up to 46.7.
Production reached an eight-month high, gaining 8.3 points to register 51.0 after seven straight months below the no-change mark of 50. New orders rose to 49.1, gaining 7.6 points. Order backlogs remained mired in contraction for the sixth month, rising slightly to 38.2.
The index for inventories was at a six-month high of 48.1 after gaining 7.8 points. Supplier deliveries reached its highest level since November 2018, rising 7.9 points to 61.3. However, early reports suggest the coronavirus is already disrupting supply chains.
Factory gate prices fell for a second month, dropping 3.2 points to 52.9. The employment index was at its lowest level since July, falling to 44.5 from January’s reading of 46.9.
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Sandy Williams
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