The MNI-ISM Chicago Business Barometer for April fell to 52.6 from 58.7 in March and was lower for a second month in a row. The ISM Chicago said the index reading was the lowest since January 2017.
The survey includes respondents from both services and manufacturing. I note that Chicago, IL is the home of Boeing. If recent troubles for the aircraft manufacturer have leaked into perceptions for other businesses in the region, it may explain some of the decline, especially for softer new orders.
The ISM Chicago said that four components delivered softer readings and only order backlogs had an increase. Weaker orders have led to weaker production and less demand for new workers. Shorter delivery times hint that orders are moving faster through the pipeline and conditions are less strained than they were in 2018.
Disclaimer: Whetstone Analysis provides commentary as a service to its subscribers. Whetstone Analysis is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within the site. While the information contained within the site is periodically updated and every effort is made to ensure its accuracy, no guarantee is given that the information provided in this Web site is correct, complete, and up-to-date. Click here to read our full Disclaimer.