.jpg)
Key Points – January Report
The Chicago Business BarometerTM, produced with MNI, rose to 65.2 in January, following an upwards adjustment in December to 64.3 from 63.1.
- Among the main five indicators, Order Backlogs, Employment and Supplier Deliveries were higher. Production and New Orders fell across the month.
- Prices Paid softened 1.9 points to an eight-month low, just below the high 12-month average of 89.1.
- Supplier Deliveries lengthened to 87.6, although some firms began to see easing of supply chain disruptions. Others found covid outbreaks to be impacting lead times.
- Production slowed 2.4 points, sitting almost four points below the 12-month average as labor absences and material shortages reduced production capacities.
- Employment climbed following three consecutive months of decline, recovering 4.6 points to 49.1 to around August 2021 levels.
- New Orders slowed in January, but remain 1.3 points above the 12-month average, despite firms citing seasonal slowdowns.
- Order Backlogs inched up to 61.9, below the 12- month average of 66.8.
- Inventories dropped 5.8 points to 54.8. Firms expressed persistent shortages of raw materials, chemicals and packaging were depleting stocks.
This month, we asked firms “Are you seeing any easing up in the supply chain blockages yet?” The largest share (59.5%) said no, whilst 37.8% said yes and somewhat.
