Economy
March 1, 2016
Chicago Business Barometer Tumbled in February
Written by Sandy Williams
The Chicago Business Barometer surprised economists with an 8 point tumble to 47.6 in February after increasing to 55.6 in January. Sharp declines in production in new orders contributed to the weaker readings. Economists expected a milder decline to 53; a reading below 50 indicates a contraction in business activity.
As new orders dropped sharply, production plunged 18.5 points, more than reversing January’s 16 point gain. Backlogs slipped further into contraction.
