MNI's Chicago Business Barometer Report came in dramatically worse than expected for November, printing 36.3 (the lowest since May 2024), well below expectations of 43.6 and the prior print of 43.8
Under the hood, it was all ugly:
Prices paid rose at a faster pace; signaling expansion
New orders fell at a faster pace; signaling contraction
Employment fell at a faster pace; signaling contraction
Inventories fell at a faster pace; signaling contraction
Supplier deliveries rose at a faster pace; signaling expansion
Production fell at a faster pace; signaling contraction
Order backlogs fell at a faster pace; signaling contraction
And this confirms the plummet that we have seen in 'soft' data in aggregate since the shutdown was lifted...
Does it really feel like the worst of COVID currently in Chicago?
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