Chicago Business Barometer Inches Up in April

The Chicago Business Barometer broke its three-month downward trend, inching up 0.2 points to 57.6. Production output picked up during the month, although new orders continued to decline. Both were below year-ago levels.

Supplier delivery times lengthened, and steel was mentioned by respondents as difficult to source. The index was up almost 20 percent and reflected higher material prices and the impact of recent tariffs. Input prices were near a seven-year high and prices paid jumped 22.8 percent year-over year. Inventories continued to expand, but at a softer pace. Some firms reported that uncertainty was driving prices up.