April 2026 Chicago Report™
The Chicago Business Barometer™, produced with MNI, eased 3.6 points to 49.2 in April. The Barometer saw a second consecutive fall and is now back in contractionary territory after three months above the neutral 50 mark.
The fall was driven by declines in Order Backlogs, New Orders, Supplier Deliveries and Production. A rise in Employment provided some offset.
Order Backlogs contracted 11.4 points, back in contractionary territory after one month above 50. There was both an increase in the share of respondents reporting smaller backlogs and a decrease in the share reporting larger backlogs.
New Orders fell 6.5 points, back below 50 after three months in expansionary territory. The proportion of respondents reporting fewer orders more than tripled in April.
Supplier Deliveries trimmed 3.7 points, though the index remains in expansion for a fifteenth consecutive month.
Production softened 1.3 points, but remained in expansionary territory for the fourth straight month.
Employment rebounded 7.9 points, mostly unwinding March’s sharp drop, but remained below 50. The proportion of respondents reporting larger employment increased to its highest since August 2022.
Prices Paid increased 5.4 points to the highest level since June. Respondents cited oil, metals and transportation fuel surcharges as key drivers.
Inventories dipped 0.9 points.
The survey ran from April 1 to April 14.
