MNI Chicago Business Barometer Fell Further in Nov

MNI CHICAGO BUSINESS BAROMETER 58.2 NOV VS 61.1 OCT

MNI CHICAGO BUSINESS BAROMETER: 5TH CONSECUTIVE READING ABOVE 50-MARK

MNI CHICAGO: NEW ORDERS SHOWED LARGEST M/M DECLINE

MNI CHICAGO: SUPPLIER DELIVERIES ABOVE 70 FOR THE FIRST TIME SINCE MAY

• The Chicago Business Barometer slipped to 58.2 in Nov, hitting the lowest level since Aug.
• Nevertheless, this marks the fifth consecutive reading in expansion territory after having registered below the 50-mark for a whole year.
• Among the five main indicators, New Orders (60.0) and Production (60.8) were the only categories to show a m/m decline, while Supplier Deliveries recorded the largest gain, rising 65.3 to 70.3.
• Order Backlogs ticked up to 51.4, while Employment gained 0.8pt to 44.0, showing the seventeenth consecutive sub-50 reading.
• Employment is the only main category which registered below the 50-mark in Nov.
• Supplier Deliveries jumped to 70.3, showing the highest level since May with firms noting delivery delays and capacity issues in the logistics and transportation sector.
• Inventories eased to 45.7, while Prices surged 9.8pt to 74.4, hitting a two-year high.
• The majority of respondents (55.4%) reported no change in productivity during the current crisis.
• When asked about the effect of the election outcome on their forecasts, the majority (73.2%) noted that the outcome does not influence their forecasts.
• Anecdotal evidence suggested stagnation of activity with firms noting that client demand is not growing.