London, 27 November 2013 MNI Chicago Report EMBARGOED UNTIL 9.45 A.M. E.T. Chicago Business Barometer down 2.9 points to 63.0 in November. Business Barometer Three Month Average Highest for Two Years. Employment Highest since October 2011.
1. London,
27 November 2013
MNI Chicago Report
EMBARGOED UNTIL 9.45 A.M. E.T., 27 NOVEMBER 2013
Chicago Business Barometer down 2.9 points to 63.0 in
November
Media Release
Business Barometer Three Month Average Highest for
Two Years
Employment Highest since October 2011
The November Chicago Business Barometer softened to 63.0 after October’s sharp
rise to a 31-month high of 65.9. November’s slight correction came amid mild declines
in New Orders, Production and Order Backlogs after double digit gains in the prior
month.
Despite November’s weakening, the Barometer remained well above 60 for the
second month, pushing the three month moving average to the highest level since
November 2011.
Chicago area purchasers continued to report healthy expansion in New Orders and
Order Backlogs, albeit at a slower rate, as well as a lengthening in Supplier Delivery
Times.
Employment was up for the second consecutive month, reaching the highest level
since October 2011, and the first time above 60 since February 2012.
Inventories exploded 13.1 points to 61.1, moving out of contraction for the first time
since February and posting the highest reading since September 2006. With
expectations for higher demand, firms underwent a major stock rebuild.
Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist at MNI
Indicators said, “The Barometer might be down in November, but this was another
impressive month with companies reporting firm growth”.
“Having kept inventories lean for so long, a pick-up in demand has led to a sharp rise
in stock building among the companies in our panel. And to handle the latest
production and new orders boost, companies are hiring at the fastest pace for two
years,” he added.
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2. Page 2
For further information, please contact:
Naomi Kim,
Public Relations
naomi.kim@deutsche-boerse.com
+1 212 669 6459
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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