Chicago Business Barometer™ - Climbed to 57.7 in February

The Chicago Business Barometer™, produced with MNI, climbed 3.7 points to 57.7 in February. Extending January’s strong increase, it saw a second consecutive month in expansionary territory after a run of twenty-five months below the key 50 mark.

The rise was driven by increases in Production, Employment, New Orders and Supplier Deliveries. A decline in Order Backlogs provided some offset.

ANOTHER STRONG RISE IN PRODUCTION

Production strengthened 9.0 points to the highest level since November 2023, and marking two months above 50.

EMPLOYMENT EXPANSIONARY FOR THE FIRST TIME SINCE NOV 2023

Employment grew 7.7 points to the highest level since October 2021. The index is in expansionary territory for the first time since November 2023.

NEW ORDERS AT HIGHEST SINCE JAN 2022

New Orders rose 2.9 points to the strongest level since January 2022.

Supplier Deliveries nudged 1.4 points higher, remaining strong and uninterrupted.

Order Backlogs slipped 4.5 points, now back in contractionary territory after one month above 50.

Prices Paid ticked up 2.4 points, partially unwinding January’s sharp decrease.

Inventories dropped 8.0 points, also back in contractionary territory after one month above 50.

The survey ran from February 1 to February 11.