Chicago Business Barometer Increases But Still Indicates Contraction
(RTTNews) - MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction.
The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.
The increase by the Chicago business barometer came as the new orders index surged by 13.8 points, more than reversing last month's slump and reaching its highest level since September 2024. The production index also rose by 4.0 points.
Meanwhile, the supplier deliveries index more than offset last month's gains, plunging by 1.35 points to its lowest level since August 2023.
MNI Indicators said the employment index also tumbled by 9.0 points to the lowest level since June 2020.
On the inflation front, the prices paid index eased 2.7 points, falling for the fourth straight month and hitting its lowest level since July 2024.
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