Economy
Chicago Business Barometer Drops 3.9 points In March
Written by Sandy Williams
April 1, 2014
The March Chicago Business Barometer slid to its lowest level since August, down 3.9 points to 55.9. The Barometer averaged 58.4 during the first quarter of 2014 indicating recovery but was down from the 2.5 year high of 63.3 in Q4 2013. First quarter results were likely impacted by the harsh weather during the quarter.
New orders softened for the second month in a row indicating weaker demand. Order Backlogs were at their lowest level since September.
A strong rise in Production helped steady the Barometer as other components weakened. Supplier Deliveries also expanded at a faster rate in March.
Employment dropped sharply, erasing February double digit gains. A reliance on temporary workers in the past four months was offered as a reason for employment losses.
The index for Inventory of Finished Goods fell into contraction and to the lowest reading since July 2013. Prices Paid also dropped for the second month in a row.
“March saw a significant weakening in activity following a five month spell of firm growth. It’s too early to tell, though, if this is the start of a sustained slowdown or just a blip,” said Philip Uglow, Chief Economist of MNI Indicators. “Panellists, though, were optimistic about the future. Asked about the outlook for demand over the next three months, the majority of businesses said they expected to
see a pick-up.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.
Chicago Business Barometer slips in October
The Chicago Business Barometer fell to a five-month low in October and continues to indicate deteriorating business conditions, according to Market News International (MNI) and the Institute for Supply Management (ISM).