Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Chicago Business BarometerTM, produced with MNI declines 2.6 points to 41.4 in March. This is the fourth consecutive monthly decrease, pushing the index further into contractionary territory, and marking the lowest print since May 2023. We also note that this print is 4 points below the 2023 average.
THE MOVE LOWER WAS DRIVEN BY A REDUCTION IN ORDER BACKLOGS, NEWS ORDERS, PRODUCTION AND SUPPLIER DELIVERIES.
In particular, Order Backlogs contracted 11.4 points to move to similar levels to August 2023 and the third lowest level of the past 15 years. More than 50% of those surveyed saw smaller backlogs.
New Orders lessened by 3.4 points to the lowest since September 2023. This was because a number of those surveyed experienced a slow period.
Supplier Deliveries decreased 1.6 points to the lowest level since October 2023.
Production moderated by 0.5 points to 42.4, the fourth consecutive month on month fall resulting in the lowest level since May 2023.
MEANWHILE, A GAIN IN EMPLOYMENT LIMITED THE DOWNSIDE MOVE
Employment rebounded from last month’s losses, increasing +6.4 points to 47.1. However, this is only 0.4 above January’s level. The rise was driven by the greatest proportion of respondents reporting higher employment and the lowest proportion reporting lower employment since November 2023.
• Prices Paid lowered by 2.1 points to 62.6 points, the lowest since November 2023, due to organizations being proactive on costs.
• Inventories slipped 3.5 points to the lowest level in two months, as planned restock has been delayed due to raw material availability.
The survey ran from March 1 to March 13.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.