Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MNI: Chicago Business Barometer™ Weakens in January
The Chicago Business BarometerTM, produced with MNI, moderated by -0.8 points to 44.3 in January; the fifth consecutive month below 50. This follows a 7.2-point December rebound to signal a softer downturn.
Production, Supplier Deliveries and Prices Paid increased over the month in January, with Production recording the strongest growth (albeit remaining below 50). All other subindexes weakened, led by a marked drop in Order Backlogs.
Source: MNI / ISM
PRODUCTION REBOUNDS TO SIGNAL MORE MODEST DOWNTURN
Production recorded an 8.5-point boost in January to 48.6, remaining marginally contractive. Responses continued to flag a slowing economy and prevailing scepticism filtering into weak production levels, alongside harsh winter conditions.
New Orders softened by -2.7 points to 40.6, after a 12.3 -point jump in December. Muted demand conditions contributed to the slow start to the year, with over 42% of firms recording fewer orders.
Order Backlogs descended by -19.2 points in January to a June 2020 low of 35.5, this more than reversed the 17.5 gain in December.
PRICE GROWTH RESURGES IN JANUARY
Prices Paid increased in January, accelerating by 7.4 points to 72.5, breaking a five-month streak of loosening prices. Some input prices including steel rose, albeit at a softer pace.
Employment ticked down by -0.6 points to a four-month low of 42.0 in January as one-quarter of firms reported lower employment levels.
The survey ran from January 2 to 17.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.