Economy

Chicago Business Barometer rises in January
Written by Stephanie Ritenbaugh
January 31, 2025
After three months of decline, the Chicago Business Barometer increased 2.6 points to 39.5 in January.
Despite the gain, the index remains below both the levels of November 2024 and the 2024 average.
The increase was driven by a jump in new orders and production, the report stated, but falls in supplier deliveries, employment, and order backlogs moderated the increase.
A look at some of the numbers
New orders rebounded 13.8 points, reversing last month’s decline. This leaves it the highest level since September 2024 and above the 2024 average, the report stated.
Production expanded 4.0 points to a similar level to that seen in November, the report found.
Employment dropped 9.0 points to the lowest level recorded since June 2020. Two-thirds of respondents reported unchanged employment while nearly 30% reported lower levels of employment, the report stated.
Inventories gained 14.9 points, returning to expansionary levels for the first time since November 2023. This is after four consecutive months of decline, the report found.
Prices paid eased 2.7 points, the fourth successive decline and the lowest level since July 2024.
The survey ran from Jan. 1 to Jan. 16. The Chicago Business Barometer asked one special question: “How do you see business activity growing in the first half of 2025, by percent?”
Slightly more than half (54%) answered between 0% – 5%, while one quarter expected no growth.

Stephanie Ritenbaugh
Read more from Stephanie RitenbaughLatest in Economy

Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

US housing starts gain momentum in July
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.

Manufacturing in New York state improves again in August
Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.

President Trump intends to set additional steel tariffs
While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.