Economy
Chicago Business Barometer Climbs in January
Written by Sandy Williams
January 29, 2021
Business activity accelerated in the Chicago area in January, says the latest analysis by MNI Indicators and the Institute for Supply Management. The Chicago Business Barometer jumped 5.1 points to 63.8, its highest level since July 2018.
Production soared 9.9 points along with a 7.9-point surge in new orders. Order backlogs expanded for a third month, gaining 5.9 points and reaching a 23-month high.
Inventories rose above the 50 no-change mark for the first time since May, gaining 6.2 points for the highest index level since October 2018. The supplier delivery index eased slightly, but firms continued to report logistical issues and delays.
The employment index dropped 4.5 points for a 19th consecutive month in contraction.
Factory gate prices rose 1.7 points to their highest level since September 2018. Higher steel prices, in particular, were cited by manufacturing firms.
The latest surge in COVID infection rates had little to no impact on most manufacturers in January.
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 into or navigating the website, please contact us at info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture firm billings remain down in January
Architecture firms continued to report a sharp reduction in billings in January, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
New York state manufacturing rebounds in February
Business activity in New York state’s manufacturing sector recovered nicely in February after a sharp decline the previous month, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York. The general business conditions index rose 18 points to 5.7. This is a diffusion index, where a positive reading signifies […]
Dodge Momentum Index jumps to record high in January
The Dodge Momentum Index (DMI) rose to a record high in January, according to the latest data released by Dodge Construction Network.
CRU: China hits back with retaliatory tariffs on US
Targets include coal, liquified natural gas, crude oil, and other commodities
ISM: Manufacturing expands in January for first time in years
Following more than two years of contraction, US manufacturing activity rebounded in January according to the Institute for Supply Management.