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 further in February
The Chicago Business BarometerTM, produced with MNI, declined by a further 0.7 points in February to 43.6, the lowest since November ’22. The headline index signalled a sixth consecutive month of contractionary business activity.
Production, Employment and Prices Paid indicators declined over the month in February, with Production recording the steepest deterioration. All indicators barring Supplier Deliveries and Prices Paid were in contractive territory (sub-50).
Source: MNI / ISM
EMPLOYMENT CONTRACTS FURTHER
Employment decreased for a third month, slipping -4.7 points to 37.3. This is the weakest since June ’20 and outside of the April-June 2020 period the lowest since 2009.
Prices Paid sank -7.2 points to 65.3, returning to late 2022 levels after having briefly surged in January. Around 39% of firms paid higher prices in February, slowing from 54% in January.
PRODUCTION REVERSES JANUARY GAINS
Production fell by 10.2 points to 38.4 in February, more than reversing last month’s 8.5 point jump higher. Approximately 40% of businesses flagged slowing activity.
New Orders increased by 3.0 points. Despite being the highest since August ’22, the index remains contractive.
Order Backlogs grew by 4.5 points after falling 19.2 points in January as easing supply chain pressures allowed for significant backlog catch-up.
The survey ran from February 1 to 13.
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.