Chicago Business Activity Declines Less Steeply - MNI Indicators
By Joshua Kirby
Business activity fell back less sharply in the Chicago area again this month, pointing to some grounds for optimism for recovery in the region.
The Chicago Business Barometer, compiled by MNI Indicators, rose to 46.6 in September from 46.1 in August, the survey showed Monday. That defied expectations for a further deterioration in the index to 45.3. Nevertheless, the result points to contraction, as it has done for 24 of the last 25 months.
Order backlogs and employment both improved over the month, taking the headline index higher. But new orders and production fell back more sharply, suggesting demand and output remain weak.
The barometer is compiled through surveys of firms in the Chicago area in order to assess business conditions.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
September 30, 2024 10:12 ET (14:12 GMT)
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