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MNI Chicago Business Barometer™ Lifted to 48.6 in April

US DATA
MNI (London)

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.

  • Employment saw a marked 8.5-point boost to 51.2, the first time above 50 since August.
  • Prices Paid accelerated by 4.7 points to 70.3, but remained a little below January levels and the 12-month average.
  • 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.
  • New Orders increased by 3.1 points, the least contractive since August 2022.
  • Order Backlogs was broadly in line with the March reading, down -0.1 points.
  • Supplier Deliveries gained 5.6 points, indicating lengthened lead times. Logistics issues including delays at customs, labor shortages and poor communication persist.
  • Inventories dropped a notable 9.8 points back into contractionary territory in April, giving back the bulk of the March increase.
  • The survey ran from April 3 to 17.

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