Economy
June 1, 2017
Chicago Business Barometer Climbs in May
Written by Sandy Williams
The Chicago Business Barometer hits its highest level since January, increasing from 58.3 in April to a reading of 59.5 in May.
New orders fell 4.5 points to 61.4 but production gained 3.7 points for an index reading of 62.3. Order backlogs pulled from contraction after five months of decline. Delivery times for inputs lengthened due to companies maintaining low inventory levels. Despite that, inventories grew at a faster pace in anticipation of summer demand, gaining 2.2. points for an index reading of 55.5.
