MNI: US DATA: MNI Chicago Business Barometer 58.9....>

MNI: US DATA: MNI Chicago Business Barometer 58.9 in July vs 65.7 in June

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The MNI Chicago Business Barometer fell to 58.9 in July from 65.7 in June, the

lowest level in three months. While marking the seventeenth straight above-50

reading, July's fall snapped a run of five straight monthly increases in

business optimism. Each of the five Barometer components receded from last

month, but remained above their respective 12-month averages. This, therefore,

points towards a return to trend after June's stellar showing. The Barometer had

risen 6.3 points in June, to the highest level since May 2014. The fall in

sentiment was broad-based in July, though particularly concentrated across both

demand and output. New orders fell by 11.6 points to 60.3, the lowest level

since February, while Production fell 6.9 points to 60.8, the lowest since

April. Firms also saw the level of backlogs slip in July. The survey period ran

from July 3-18.