Economy
January 31, 2020
Chicago Business Barometer Drops to Five-Year Low
Written by Sandy Williams
The Chicago Business Barometer, a leading indicator of Midwest manufacturing, dropped to its lowest level since December 2014, said MNI Indicators. The PMI posted a reading of 42.9 in January following two months of gains. The three-month average dipped to 45.9. Any reading below 50 indicates contraction.
New orders fell 6.1 points to 41.5 and production dropped 3.8 points to 42.7, its lowest level since July 2019. Order backlogs were at a four-year low, plummeting 10.2 points to 34.6.
