Economy
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/65f9e26adfed56dae9cdc7913209c3fe.jpg)
Chicago PMI Slips in January
Written by Sandy Williams
January 31, 2014
The Chicago PMI slipped 1.2 points to 59.6 in January from a revised 60.8 in December. The index, formally known as the Chicago Business Barometer, fell for the third consecutive month but was still firmly above the 50.0 mark that indicates expansion.
Employment weakened in January to a reading of 49.2, slipping into contraction for the first time in nine months and the second consecutive monthly decline.
Prices paid rose to its highest level since November 2012, with a reading of 64.9.
“There have been concerns that putting the brakes on monetary easing could damage business. Most respondents, though, thought that the Federal Reserve’s decision to begin tapering their bond purchases in December would not have a significant impact on their business”, said Philip Uglow, Chief Economist at MNI Indicators.
{amchart id=”111″ Chicago Business Barometer Index}
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/construction.png)
US construction spending slips in July
Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/FedRes.png)
Beige Book: Economic growth hit by tighter consumer spending
Growth in the US economy continues to struggle in most districts. The Federal Reserve’s Beige Book report for August shows two-thirds of reporting districts flat or declining economic activity.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/economy.jpg)
Steel Summit 2024: Dr. Basu predicts near-term weakness in US economy
“The US economy, despite some near-term weakness I suggest in early 2025, is going to be strong," Dr. Anirban Basu said this week.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/2023_News_Img/7.Jul-23/Chicago-skyline-summer-2022v2.jpg)
Chicago Business Barometer ticked up in August, remains low
The Chicago Business Barometer edged up in August but remains in contraction territory, according to the latest release from Market News International (MNI) and the Institute for Supply Management (ISM).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/construction2.png)
ABI remains soft despite July gains
The July AIA ABI score has recovered nearly six points over the last two months following the near four-year low recorded in May