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US DATA: MNI Chicago Business Barometer Slips to 58.4 in October
The MNI Chicago Business Barometer declined to 58.4 in October, the lowest
reading since April, down 2.0 points from 60.4 in September. Business activity
continued to expand at a healthy rate this month, despite the pace of activity
decelerating for the third month in a row. A decline in order book growth and
unfinished orders more than offset a rise in output, delivery times and
employment, sending the Barometer to its lowest reading in six months. On the
year, the Barometer was down 10.7%, the biggest year-over-year fall since
December 2015. Despite beginning the final quarter on a softer footing, activity
remains robust relative to recent years. The headline index still sits above its
five-year average, with the latest moderations possibly reflecting a reversion
to more normal levels after a series of strong performances over the past 12
months. The survey period ran from October 1 to October 18.
MNI London Bureau | +44 203-865-3812 |