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 Barometer, produced with MNI, fell to 66.8 in August, the lowest reading since June after climbing to a two-month high in July. Order backlogs rose sharply while production sank, and firms say the available supply of raw materials and workers isn't sufficient to keep up with new orders.
Among the five main indicators, Order Backlogs saw the largest increase, climbing 11.6 points to 81.6, the highest reading since 1951 as firms reported a shortage of materials and freight inconsistencies. That was followed by Supplier Deliveries, which increased 6.3 points to 92.8, the highest since 1973, with one survey respondent reporting the worst delivery times in three years.
Other notable gains came from Inventories, which rose 6.2 points to 48.8, the highest since March though still signalling contraction, and Prices Paid, which increased 2.3 points to 93.9, the highest reading since 1979.
Demand for labor rose only marginally in August, with the Employment index increasing just 0.8 points to 48.3 as companies continued to struggle to find qualified workers for available jobs.
Meanwhile, Production fell sharply in August, dropping 7.8 points to a two-month low of 61. New Orders fell 4.4 points to 67.8, indicating that demand is growing at a slower pace compared to July.
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.