MNI Indicators: Chicago Business Barometer™ - Progressed To 43.8 In October
Date 31/10/2025
October 2025 Chicago Report™
The Chicago Business Barometer™, produced with MNI, progressed 3.2 points to 43.8 in October. The index is now back above the 2025 average of 43.1. However, the index has remained below 50 for twenty-three consecutive months.
The increase was mainly driven by a rebound in New Orders, alongside rises in Production and Order Backlogs. All Business Activity subcomponents increased in October.
New Orders expanded 6.2 points, unwinding the majority of September’s fall. This was the first gain in New Orders since July.
Production strengthened 3.8 points, now sitting at similar levels to May, though the index has been below 50 since March.
Order Backlogs advanced 5.4 points, bringing the index to its highest level since November 2023. The proportion of respondents reporting smaller Order Backlogs dropped to its lowest since June 2022.
Supplier Deliveries increased 1.4 points, but remained below August levels. The index has been above 50 for nine consecutive months.
Employment was virtually unchanged, rising 1.3 points. The proportion of respondents reporting larger Employment is at its lowest since February.
Inventories jumped 12.0 points, more than reversing the previous two months’ declines. The index is now at its highest since May.
