US DATA
The Chicago Business Barometer™, produced with MNI eased 1.4 points to 40.2 in November. This was the second consecutive monthly fall from 46.6 in September, leaving the index 2.7 points below the year-to-date average.
- Four of the five subcomponents fell in November (Production, Order Backlogs, Employment and Supplier Deliveries), with only New Orders rising.
- Supplier deliveries fell 8.1 points, the largest downward move since March 2023.
- Production slipped 2.0 points to 37.0 making it the lowest since April 2024. For the second month running, almost 40% of respondents reported lower production compared to the prior month.
- Order Backlogs loosened 1.9 points, making the reading now over 10 points below the September reading.
- Employment slowed 1.5 points to 37.5, making it the fifth month this year the subindex has been below 40.
- New Orders advanced 3.0 points, slightly above the year-to-date average but still below September’s reading.
- Prices paid moderated 1.2 points to 66.1, with the share of respondents reporting higher prices falling slightly below 30% for the first time since July.
- Inventories dipped 5.8 points, the lowest since January 2024.
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