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MNI: Chicago Business Barometer Sees October Bounce

MNI Chicago Business Barometer Rises To 68.4 in October From 64.7

Photo by Neal Kharawala on Unsplash
(MNI) LONDON
(MNI) London

The Chicago Business Barometer rose to 68.4 in October, picking up after two consecutive months of decline. ­­­­­Among the main five indicators, four were higher, led by Order backlogs and Employment. Only Production fell across the month.

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. Employment increased again, up for a fourth straight month, rising 4.2 points to 56.6, the highest in just over three years.

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.

Production was the only component to fall in October, dropping 2.2 points to 58.5, the lowest reading since August 2020.

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.


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