MNI Chicago Business Barometer Slips in August to 66.8

The MNI Chicago Business Barometer fell 6.6 points in August to 66.8, the lowest reading since June after climbing to a two-month high in July.

• Survey respondents told MNI the available supply of raw materials and workers isn't sufficient to keep up with new orders, which fell to 67.8 in August, suggesting demand through the month grew at a slower pace compared to July.
• Production also fell in August, dropping 7.8 points to a two-month low of 61. Meanwhile, order backlogs saw the largest gain through the month, rising 11.6 points to 81.6, the highest reading since 1951.
• That was followed by Supplier Deliveries, which increased 6.3 points to 92.8, the highest since 1973. Inventories rose 6.2 points to 48.8, the highest level since March.
• Prices Paid rose to 93.9, the highest since 1979. Employment was up only slightly, rising 0.8 points to 48.3.