Economy
Chicago Business Barometer Dips in March
Written by Sandy Williams
March 31, 2020
The Chicago Business Barometer remained in contraction for the ninth month, declining 1.1 points in March to 47.8.
New orders fell 7.9 percent while production slipped back into contraction. Order backlogs rose to their highest level since December 2019.
“While some firms reported a rise in orders due to stockpiling by U.S. customers, others noted a fall in new business due to COVID-19,” said the MNI indicators.
Inventories were depleted in March, slipping to the lowest level since October 2009. Supplier deliveries surged in March to their highest level since November 2018. Firms noted delivery delays from China and other oversea sources.
Business sentiment rose only slightly in the March report. About 40 percent of firms expect the level of new orders in three months to be unchanged, 31 percent expect a decline and 28.6 percent anticipate an increase during the second quarter.
Below is a graph showing the history of the Chicago Business Barometer. You will need to view the graph on our website to use its interactive features; you can do so by clicking here. If you need assistance logging in to or navigating the website, please contact us at info@SteelMarketUpdate.com.
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.