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
New York state manufacturing falls back into contraction
After a brief pickup in September, manufacturing activity in New York state retreated into contraction, according to the October Empire State Manufacturing Survey.
Dodge Momentum drops on moderating data center growth
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
US construction spending drops again in August
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]
ISM: Manufacturing contracts again in September
US manufacturing activity contracted for the sixth consecutive month in September, according to the latest report from the Institute for Supply Management (ISM). The index has indicated a contracting industrial sector for 22 of the past 23 months.
Chicago Business Barometer remains gloomy in September
The Chicago Business Barometer increased marginally in September but continues to indicate deteriorating business conditions.