US DATA
The Chicago Business Barometer™, produced with MNI tempered by -1.2 points to 46.0 from December’s revised figure of 47.2. This is the second consecutive monthly fall, keeping the Chicago ReportTM in contractionary territory, although still +0.6 points above the 2023 average and above the levels seen in both September 2023 and October 2023.
- All of the subcomponents included in the headline index rose compared to December revised levels, apart from Production which plunged -9.9 points into contractionary territory.
- Production fell -9.9 points to 48.7 points, reentering contractionary territory, and is the lowest since October 2023.
- Order Backlogs grew +2.8 points. With the exception of November 2023, this is the highest since April 2023.
- Supplier Deliveries inched up +1.0 points. Again, with the exception of November 2023 this was the highest since April 2023 and the third consecutive month in expansionary territory.
- New Orders saw a small increase of +1.4 points, remaining in contractionary territory. However, New Orders remain above the 2023 average.
- Employment crept up +0.5 points to 46.7 points.
- Inventories (which are not included in the calculation for the headline index) declined -3.1 points, the lowest since July 2023.
- Prices paid slipped for the first time since September 2023 by -4.1 points to 63.9 points.
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