Economy
Chicago Business Barometer Climbs in January
Written by Sandy Williams
January 29, 2021
Business activity accelerated in the Chicago area in January, says the latest analysis by MNI Indicators and the Institute for Supply Management. The Chicago Business Barometer jumped 5.1 points to 63.8, its highest level since July 2018.
Production soared 9.9 points along with a 7.9-point surge in new orders. Order backlogs expanded for a third month, gaining 5.9 points and reaching a 23-month high.
Inventories rose above the 50 no-change mark for the first time since May, gaining 6.2 points for the highest index level since October 2018. The supplier delivery index eased slightly, but firms continued to report logistical issues and delays.
The employment index dropped 4.5 points for a 19th consecutive month in contraction.
Factory gate prices rose 1.7 points to their highest level since September 2018. Higher steel prices, in particular, were cited by manufacturing firms.
The latest surge in COVID infection rates had little to no impact on most manufacturers in January.
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 into or navigating the website, please contact us at info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.