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MNI Chicago Business Barometer™ Edged up to 43.8 in March

US DATA
MNI (London)

The Chicago Business BarometerTM, produced with MNI, inched up by 0.2 points to 43.8 in March. Despite increasing for the first time since December 2022, the headline index signaled a seventh consecutive month of contractionary business activity in March.

  • Employment increased by 5.4 points on the month, moving to similar levels seen in both December and January.
  • Prices Paid edged up by 0.3 points after the substantial February deceleration.
  • Production improved 2.6 points in March, after a marked 10.2-point fall in February. Firms continued to flag softening demand, also noting that semiconductor shortages continue to drag on auto and countless other applications.
  • New Orders softened -1.0 points; a tenth consecutive month of declining orders.
  • Order Backlogs picked up again in March, rising 5.6 points and marking three months of falling backlogs.
  • Supplier Deliveries fell -9.3 points, moving below 50 for the first time since June 2016, with some respondents finding substantial improvements in deliveries as supply chain pressures ease further.
  • Inventories jumped 13.6 points in March, re-entering expansive territory and returning to November levels.
  • The survey ran from March 1 to 13.



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