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MNI Indicators specializes in producing business and consumer surveys designed to present an advance picture of the economic landscape and highlight changing trends in business and consumer activity. MNI Indicators produces the renowned Chicago Business Barometer™, a key leading indicator of the US economy. MNI Indicators is part of Market News International, Inc., a leading provider of news and intelligence.
- The Chicago Business Barometer™, produced with MNI fell -0.1 points to 44.0 from 44.1 in September. It remains below the 48.7 level seen in August but broadly in line with the 2023 average of 44.2.
- Production was the largest downside driver, while supplier deliveries and order backlogs also contributed. New orders and employment both moved up fairly notably.
- New orders were lifted +4.2 points, partially reversing the significant -17.6 point fall seen in September. The rise was driven largely by an increase in the proportion of respondents reporting an unchanged pipeline (and a slight decline in those reporting new orders).
- Production decreased -4.6 points to 46.5, entering contractionary territory once again after two months of expansion in August and September.
- Order backlogs were -0.3 points lower.
- Employment climbed +5.7 points to 50.2, the first growth into expansionary territory since April 2023. This was driven by increases in employment by some respondents to address holiday-season expectations and falls for those affected by labor unrest.
- Supplier deliveries dropped slightly by -0.5 points, showing improvements in logistical plans.
- Prices paid increased +0.6 points to 60.1 and remains below levels seen for the majority of the last three calendar years.
- Inventories gained +0.6 points, the third consecutive monthly increase.
- The survey ran from 1 October to 16 October
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