Free Trial

MNI Chicago Business Barometer Falls To 61.8 In November

US DATA
(MNI) LONDON

The Chicago Business Barometer fell 6.6 points to 61.8 in November, the lowest reading since February, driven by a slow-down in new orders. Inventories hit a three-year high as firms stock up in an attempt to beat shortages and long lead times.

  • Among the five main indicators, Inventories saw the largest increase, followed by Production. All other indicators dropped compared to October, with Order Backlogs seeing the largest decline.
  • Prices Paid dipped 0.5 points to 93.8, but still only just shy of October's multi-decade high with ongoing higher costs for production materials reported.
  • Production recovered slightly in November, up 3 points following three straight falls from August to October. New Orders fell back to their February level, down 9.3 points to 58.2.
  • Order Backlogs dropped 13.8 points to 60.8, 6 points below the 12-month average, as firms reported a reduction in the size of incoming orders.
  • Supplier Deliveries declined slightly, down 1.5 points, however multiple survey respondents reported November deliveries to be the slowest ever.
  • Inventories rose 8.5 points to 59.6, the highest since Fall 2018. Some firms reported stockpiling to get ahead of further supply chain disruptions and counteract logistical issues.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

To read the full story

Close

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.