December 2025 Chicago Report™
The Chicago Business Barometer™, produced with MNI, rebounded 7.2 points to 43.5 in December. The index has mostly unwound November’s decline but has remained below 50 for twenty-five consecutive months.
The rise was driven by increases in New Orders, Production and Order Backlogs. Declines in Supplier Deliveries and Employment provided a small offset.
Order Backlogs climbed 12.3 points, partially reversing November’s drop. However, the index remains below 40 and has only been above that weak mark for three months this year.
New Orders jumped 11.8 points, almost completely unwinding last month’s fall.
Production strengthened 9.6 points. The index is now back above its 2025 average and at its highest since March.
Supplier Deliveries softened 3.6 points, but the index has remained above 50 for eleven months.
Employment dipped 0.6 points to the lowest since May 2009. No respondents reported larger employment for the second consecutive month. • Inventories fell 0.5 points, remaining below the 2025 average.
Prices Paid faded 1.1 points. No respondents reported lower prices paid for the third consecutive month.
The survey ran from December 1 to December 15.
