Economy
January 31, 2017
Chicago Business Barometer Falls to May 2016 Level
Written by Sandy Williams
The Chicago Business Barometer lost 3.6 points in January, registering 50.3 from a revised 53.9 in December. The Barometer was at its lowest level since May 2016, after a strong fourth quarter averaging 54.3, said MNI Indicators.
New orders fell by 7.8 points dipping into contraction and dragging down the composite index. Production fell 2.3 points to 56.0 and employment levels were below the neutral point for the third straight month. Order backlogs increased, although remaining in contraction territory, and supplier deliveries lengthened to the highest level since May 2016. Inventories decreased at the fastest pace since May, pushing the inventory index down 2.7 points this month.
