Economy
October 31, 2016
Chicago Business Barometer Reveals Weaker Q4
Written by Sandy Williams
Economic activity in October lost some of the momentum gained in third quarter, according to the latest survey by MNI Indicators. The Chicago Business Barometer fell 3.6 points to a five month low of 50.6 in October. The three month moving average was at 52.1, down from 53.8 in September.
Production dropped 5.4 points from September’s nine month high and the new orders component of the Barometer fell to its lowest level since May. Backlogs remained in contraction although improving slightly. Inventory levels fell at the fastest pace since May 2016 and moved back into contraction. Supplier deliveries were at their lowest levels since June.
