The Chicago Business Barometer softened to 59.6 in January from a revised 60.8 in December, the third consecutive monthly fall following October’s jump to the highest since March 2011. In spite of January’s slower rate of expansion, the Barometer remained firm and consistent with the recent pick-up in GDP.

1. London,
31 January 2014
MNI Chicago Report
EMBARGOED UNTIL 9.45 A.M. E.T., 31 JANUARY 2014
Chicago Business Barometer down 1.2 points to 59.6 in
January
Media Release
 Employment Slips Into Contraction
 Production, New Orders, Backlogs Rise Slightly
The Chicago Business Barometer softened to 59.6 in January from a revised 60.8 in
December, the third consecutive monthly fall following October’s jump to the highest
since March 2011.
In spite of January’s slower rate of expansion, the Barometer remained firm and
consistent with the recent pick-up in GDP.
Declines in Employment and Supplier Deliveries led the Barometer lower, with
Employment slipping into contraction for the first time in nine months.
Production, New Orders and Order Backlogs increased slightly, having fallen for the
past two months.
The Employment component fell sharply for the second consecutive month to the
lowest since April 2013. The majority of companies said their workforce was
unchanged with some of them reporting higher productivity of their employees.
Prices Paid rose to the highest level in more than a year as suppliers continued to
request price increases.
Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist at MNI
Indicators said, “Business activity continued to ease in January but remained at a
relatively high level. Production and New Orders remained firm, and while
Employment fell back into contraction, this doesn‘t appear to be indicative of current
demand conditions.”
“There have been concerns that putting the brakes on monetary easing could damage
business. Most respondents, though, thought that the Federal Reserve’s decision to
begin tapering their bond purchases in December would not have a significant impact
on their business”, he added.
- ENDS -
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Public Relations
naomi.kim@deutsche-boerse.com
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Editorial Content:
Philip Uglow,
Chief Economist, MNI Indicators
Alyce Andres-Frantz
Chicago Bureau Chief, MNI News
Notes to Editors
Please source all information to MNI Indicators.
Media Release
The MNI Chicago Report is published by MNI Indicators, part of Deutsche Börse
Group, in partnership with the ISM-Chicago.
The MNI Chicago Report is published monthly and contains the Chicago Business
TM
Barometer and a number of other Business Activity and Buying Policy indicators.
The data is seasonally adjusted.
TM
The Chicago Business Barometer is a closely watched leading indicator of U.S.
economic activity and is based on a survey panel of purchasing/supply-chain
professionals, primarily drawn from membership of the Institute for Supply
Management-Chicago (ISM-Chicago). The survey panel contains both manufacturing
and non-manufacturing firms, many with global operations.
TM
The Chicago Business Barometer is a composite diffusion indicator made up of the
Production, New Orders, Order Backlogs, Employment and Supplier Deliveries
indicators and is designed to predict future changes in gross domestic product (GDP).
An indicator reading above 50 indicates expansion compared with a month earlier
while below 50 indicates contraction. A result of 50 is neutral. The farther an indicator
is above or below 50, the greater or smaller the rate of change.
About the ISM-Chicago
ISM-Chicago is a non-profit association dedicated to strengthening the community of
purchasing and supply management professionals in the Chicagoland area. As an
affiliate of the Institute of Supply Management (ISM), the organization is committed to
the ongoing professional development of its members and the purchasing and supply
management profession through education, research and communication. For more
information on becoming a part of ISM-Chicago, call (847) 298-1940.
About MNI Indicators
MNI Indicators, part of Deutsche Börse Group, offers unique macro-economic data
and insight to businesses and the investment community. We produce data and
intelligence that is unbiased, pertinent and responsive. Our data moves markets.
For more information, visit our website at www.mni-indicators.com.
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