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.
The Chicago Business BarometerTM, produced with MNI, improved by 4.8 points to 48.6 in April. This was the highest reading since August 2022. Nonetheless, the headline index remained sub-50, thus signaling an eight consecutive month of contractionary business activity.
All subindexes except Order Backlogs and Inventories increased in April. Employment recorded the strongest growth with the sharpest contraction for Inventories. Employment, Supplier Deliveries and Prices Paid were expansive (above 50) in April. All other subindicators indicated contraction (below 50).
Source: MNI / ISM Chicago
EMPLOYMENT RE-ENTERS EXPANSIONARY TERRITORY
Employment recorded a marked 8.5-point boost to 51.2, expanding the first time above 50 since August. Anecdotal evidence suggested successful recruitment activities in April. The share of firms reporting lower employment in April was the least in 2 years.
Prices Paid accelerated by 4.7 points to 70.3, but remained a little below January levels and the 12-month average.
PRODUCTION IMRPOVES
Production rose for a second month in April, up 6.9 points to 47.9, the second highest reading since August and 1.4 points above the 12-month average. Despite remaining below the break-even mark of 50, some firms noted production having returned to around pre-pandemic levels.
Supplier Deliveries gained 5.6 points, indicating lengthened lead times. Logistics issues including delays at customs, labor shortages and poor communication persist.
New Orders increased by 3.1 points, the least contractive since August 2022.The survey ran from April 3 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.