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US DATA
The Chicago Business Barometer rose to 68.4 in October, picking up after two consecutive months of decline.
- Prices Paid rose 3.6 points in October to a 42-year high of 94.3, with many companies saying prices continued to be an issue.
- Among the main five indicators, four were higher, led by Order backlogs and Employment. Only Production fell across the month.
- After the sharp September fall, Order Backlogs recovered more than half the loss, picking up 13.5 points to stand at 74.6.
- Supplier Deliveries rose 3.5 points through September to 84.7, as firms again reported worsening port congestion and ongoing logistical issues with trucking, rail, and even air cargo.
- New Orders advanced 3.1 points to 67.5, recovering from September's 6-month low. Some businesses said raw material shortages and a low supply of critical components like semiconductors at suppliers was impacting opportunities.
- Production was the only component to fall in October, dropping 2.2 points to 58.5, the lowest reading since August 2020.
- Employment increased again, up for a fourth straight month, rising 4.2 points to 56.6, the highest in just over three years.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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.
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