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MNI Chicago Business Barometer Hits 30-Month High in Jan

US DATA
MNI (London)

MNI CHICAGO BUSINESS BAROMETER 63.8 JAN VS 58.7r DEC

MNI CHICAGO: PRODUCTION SHOWED LARGEST M/M INCREASE; AT 3-YEAR HIGH

MNI CHICAGO: EMPLOYMENT RECORDED BIGGEST M/M DROP

MNI CHICAGO: ORDER BACKLOGS AT 23-MONTH HIGH

The Chicago Business Barometer rose to 63.8 in Jan after a downwardly revised reading of 58.7 in Dec.

Jan's reading is the highest level since July 2018. It was a second consecutive gain and beat market expectations looking for a downtick.

Among the main five indicators, Production (71.3) saw the largest monthly gain, followed by New Orders (66.2). Employment (43.4) recorded the biggest decline.

Production rose to a 3-year high in Jan, while New Orders rose to the highest level since Nov 2018.

Order Backlogs increased to a 23-month high of 60.1, but Supplier Deliveries slipped to 69.9.

Supplier Deliveries remain elevated, however, with firms continuously noting logistical issues.

Inventories shifted above the 50-mark for the first time since May, rising to 55.1.

Prices rose for the fifth consecutive months to 75.2, the highest level since Sep 18 with many companies noting higher prices for steel.

The majority (50%) reported a mild negative impact of the recent increase in Covid-19 cases on business, while 31.8% said it had no impact on their activity.


MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

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