Connect With PPD
Follow Us:
Economy

MNI Chicago Business Barometer: Midwest Manufacturing Expands in September

Auto manufacturing plant and worker in Midwest. (Photo: Reuters)

The MNI Chicago Business Barometer, the Institute for Supply Management’s gauge of factory activity in the Midwest, increased 2.7 points to 54.2 in September from 51.5, recovering most of lost ground experienced in the previous month. The MNI Chicago Report is up from earlier in the year when the Barometer averaged 53.8 in Q3, up from 52.2 in Q2 and the highest quarterly level since Q4 2014.

“Economic growth in the US appears to have picked up a little at the end of the third quarter and although the Employment component fell, this was on the back of a relatively strong showing in the previous month,” said Lorena Castellanos, senior economist at MNI Indicators. “Note Employment usually lags changes in orders and output, so it was not that surprising to see this component weakening in September.”

The increase in the Chicago Business Barometer was almost exclusively driven by large gains in Production, which rose 7.3 points to 59.8, the highest since January 2016. New Orders and Order Backlogs, which caused the Barometer to fall in August, were flat in September. Order Backlogs did climb above the 50 breakeven level. Employment was the only Barometer component that fell, after gaining to a 16-month high in August.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

4 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

4 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.