Economy

Chicago Business Barometer Slips for the 2nd Month

December 31, 2013

The Chicago Business Barometer slipped 3.9 points to 59.1 in December. It is the second consecutive month that the barometer has fallen but the reading well above 50 indicates expansion is still strong although moderating.

New Orders, Production and Order Backlogs continued to expand but at a slower rate. Employment fell to just above the neutral 50 mark for the month.

Supplier deliveries rose to its highest level since June 2011 but continued lengthening of Supplier Deliveries was viewed as potential detriment to sustained growth.

“The Chicago Business Barometer finally turned a corner in 2013 having been in decline for the previous two years and ended the year with fourth quarter growth at the highest for more than two years,” said Philip Uglow, Chief Economist at MNI Indicators. “While activity dipped a little in December, businesses continued to report firm growth in Production and New Orders.”

{amchart id=”111″ Chicago Business Barometer Index}