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Chicago Business Barometer™ - Steady at 44.0 in October

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The Chicago Business Barometer™, produced with MNI fell -0.1 points to 44.0 from 44.1 in September. It remains below the 48.7 level seen in August but broadly in line with the 2023 average of 44.2.

Source: MNI / ISM Chicago

PRODUCTION RE-ENTERS CONTRACTIONARY TERRITORY; ORDER BACKLOGS AND SUPPLIER DELIVERIES ALSO FALL SLIGHTLY

Production decreased -4.6 points to 46.5, entering contractionary territory once again after two months of expansion in August and September.

Order backlogs were -0.3 points lower.

Supplier deliveries dropped slightly by -0.5 points, showing improvements in logistical plans.

NEW ORDERS AND EMPLOYMENT RISE NOTABLY; PRICES PAID AND INVENTORIES ALSO HIGHER

New orders were lifted +4.2 points to 42.2, partially reversing the significant -17.6 point fall seen in September. The rise was driven largely by a share of those seeing fewer new orders switching to an unchanged pipeline (offsetting a slight decline in those reporting increased new orders).

Employment climbed +5.7 points to 50.2, the first increase into expansionary territory since April 2023. This was driven by increases in employment by some respondents to address holiday-season expectations and falls for those affected by labor unrest.

Prices paid increased +0.6 points to 60.1 and remains below levels seen for the majority of the last three calendar years.

Inventories gained +0.6 points, the third consecutive monthly increase.

The survey ran from 1 October to 16 October

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