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MNI CHICAGO BUSINESS BAROMETER 72.1 APR VS 66.3 MAR
MNI CHICAGO BUSINESS BAROMETER AT HIGHEST SINCE DEC 1983
MNI CHICAGO: ORDER BACKLOGS SHOWED LARGEST M/M INCREASE IN APR
MNI CHICAGO: ORDER BACKLOGS AT HIGHEST SINCE DEC 1973
MNI CHICAGO: PRICES PAID AT HIGHEST SINCE FEB 1980
- The Chicago Business Barometer jumped to 72.1 in Apr, surpassing expectations (BBG: 64.5) and marking the highest level since Dec 1983.
- Apr's uptick was driven by a sharp increase of Order Backlogs (73.2), rising to the highest level since Dec 1973 and the eighth reading above the 50-mark in a row.
- Meanwhile, New Orders rose to an 83-month high of 72.2 in Apr and Employment ticked up to 56.4, its highest reading since Aug 2018.
- While Production edged up slightly to 72.9, Supplier Deliveries fell to 76.4, however, the index remains elevated by historical standards, reflecting current supply chain constraints.
- Anecdotal evidence suggests an increase in business activity partly because firms are overbuying due to raw material shortages.
- Prices surged to the highest level since Feb 1980 at 91.5, driven by raw material shortages and logistical problems.
- The majority of respondents, at 54.8%, plans to expand their work force, either with permanent (16.7%) or temporary (14.3%) workers, or both (23.8%).