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Chicago Prices Paid Points To Bottoming PPI

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One of the standout numbers in the Chicago Business BarometerTM, produced with MNI, is the big jump in Prices Paid, which increased substantially by +11.9 points to 74.0.

  • This was the highest level since October 2022.
  • Fewer respondents saw prices unchanged, with over 50% reporting having paid higher prices.
  • Historically the national ISM manufacturing prices paid reading and the Chicago Business Barometer SA reading have tracked fairly closely, in direction if not magnitude - suggesting current estimates for tomorrow's Prices Paid Print (44.0, vs 42.6 prior) may be on the low side.
  • The Chicago Business Barometer Prices Paid has also had a good correlation with PPI Y/Y, suggesting that producer prices may be set to pick up after a lull, alongside energy prices.


Source: MNI, ISM


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