By Ed FranklBusiness activity unexpectedly fell in the Chicago area in January, reflecting deteriorating production, although other components showed improving conditions, according to a survey published Wednesday. The Chicago Business Barometer fell to 46.0 from an upwardly revised 47.2 in December, data from a survey compiled by MNI indicators showed. The barometer is compiled through surveys of firms in the Chicago area in order to assess business conditions and components including new orders, order backlogs, production, supplier deliveries and employment. It fell for the second consecutive month, remaining in contractionary territory, but was still above the 2023 average of 45.4. Meanwhile, order backlogs, supplier deliveries, new orders and employment indexes all rose, the survey said.

Source: Wall Street Journal February 01, 2024 03:34 UTC