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MNI Chicago Business Barometer™ Weakened to 43.6 in February

US DATA
MNI (London)

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.

  • 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.
  • Production fell by 10.2 points to 38.4 in February, more than reversing last month’s 8.5 point jump higher.
  • 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.
  • Supplier Deliveries gained 3.6 points.
  • The inventories subcomponent was little changed, after having declined into year-end.
  • The survey ran from February 1 to 13.

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