The MNI-ISM Chicago Business Barometer rose to 46.3 in November after a nearly four-year low of 43.2 in October. The index has now been below neutral for three straight months. For index components, the report noted that new orders firmed and backlogs increased, but remained in contraction. The slowdown for production deepened and vendor performance declined sharply, although it remained just north of the 50-mark. Employment was essentially unchanged with the index down a scant two-tenths.
The report also noted that inventories were experiencing a sharp correction downward in anticipation of slower economic conditions. The prices paid index was its lowest since April and indicated little upward pressure on costs.
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.