Chicago Business Barometer™ - Advances to 47.6 in March

The Chicago Business Barometer™, produced with MNI advanced 2.1 points to 47.6 in March. This is the third consecutive monthly gain, taking the index to its highest level since November 2023, though it remains in contractionary territory for the sixteenth successive month.

INCREASE LARGELY DRIVEN BY PRODUCTION

Production increased 8.8 points to 55.5, the highest since December 2023, taking it into expansionary territory for the first time since June 2024.

New Orders saw a minor 0.4 point rise, with the subindex last higher than this in November 2023.

Employment lifted 0.9 points to 37.2, only a marginal improvement from January 2025 which had recorded the lowest level since June 2020. 

PRICES PAID REMAIN ELEVATED

Prices Paid edged down a marginal 0.4 points to 76.7, keeping the reading the second highest print since August 2022. No respondents reported lower prices for the second consecutive month.

Order Backlogs progressed by 0.7 points, remaining the highest since September 2024.

Supplier Deliveries dipped 2.0 points.

Inventories fell 6.5 points to the lowest level since March 2020. 

The survey ran from March 1 to March 17.