MNI Chicago Business Barometer Slips in September to 64.7

The MNI Chicago Business Barometer fell 2.1 points in September to 64.7, the lowest reading February after declining to 66.8 in August.

• Survey respondents told MNI freight difficulties and the available supply of raw materials continue to hamper production, which fell 0.3 points to 60.7, the lowest level since June.
• Order Backlogs saw the largest decline through the month, dropping 20.5 points to a six-month low of 61.1 as supply shortages weighed heavily on production.
• That was followed by Supplier Deliveries, which sank 11.6 points to 81.2, the lowest level since March. Firms reported worsening port congestion and ongoing problems with ocean, rail, trucking, and even air cargo. New Orders were also down in September, falling 3.4 points to a six-month low of 64.4, suggesting demand through the month rose at a much slower pace compared to August.
• Prices paid eased by 3.2 points to a four-month low of 90.7.
• Meanwhile, Employment rose 4.1 points to 52.4, the highest level since April. Companies reported fewer difficulties finding available workers compared to previous months, though those workers weren't always qualified for open positions.