Economy
Chicago Business Barometer Dips in March
Written by Sandy Williams
March 31, 2020
The Chicago Business Barometer remained in contraction for the ninth month, declining 1.1 points in March to 47.8.
New orders fell 7.9 percent while production slipped back into contraction. Order backlogs rose to their highest level since December 2019.
“While some firms reported a rise in orders due to stockpiling by U.S. customers, others noted a fall in new business due to COVID-19,” said the MNI indicators.
Inventories were depleted in March, slipping to the lowest level since October 2009. Supplier deliveries surged in March to their highest level since November 2018. Firms noted delivery delays from China and other oversea sources.
Business sentiment rose only slightly in the March report. About 40 percent of firms expect the level of new orders in three months to be unchanged, 31 percent expect a decline and 28.6 percent anticipate an increase during the second quarter.
Below is a graph showing the history of the Chicago Business Barometer. You will need to view the graph on our website to use its interactive features; you can do so by clicking here. If you need assistance logging in to or navigating the website, please contact us at info@SteelMarketUpdate.com.
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).