MNI Chicago Business Barometer Media Release - February 2014

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Information about MNI Chicago Business Barometer Media Release - February 2014
Business & Mgmt

Published on February 28, 2014

Author: MNIIndicators

Source: slideshare.net

Description

London, 28 February MNI Chicago Report EMBARGOED UNTIL 9.45 A.M. E.T. The Chicago Business Barometer remained broadly unchanged at 59.8 in February. Employment bounces back strongly.

London, 28 February 2014 MNI Chicago Report EMBARGOED UNTIL 9.45 A.M. E.T., 28 FEBRUARY 2014 Chicago Business Barometer up 0.2 to 59.8 in February Media Release Employment Bounces Back Strongly Production, New Orders and Backlogs Expand at Slower Rate The Chicago Business Barometer remained broadly unchanged at 59.8 in February compared with 59.6 in January, as a double-digit gain in Employment offset declines in New Orders, Production and Order Backlogs. The Chicago Report points to firm growth and a continued recovery in the US economy, with the Barometer standing at its highest level since December and remaining around 60 for the fifth consecutive month. Some panellists cited the negative effect of the poor weather on their business, although overall this appeared to have a minor impact that was only visible in longer supplier lead times. After expanding at a faster rate in January, Production and New Orders decelerated in February, while a more pronounced set back was seen in Order Backlogs. In contrast, the Employment Indicator bounced back sharply in February, jumping out of contraction, and nearly reversing the declines seen in the previous two months. Prices Paid fell in February, following January’s supplier led price hikes, which had pushed the indicator to the highest level since November 2012. Inventory of finished goods expanded a little faster as companies continued to rebuild stocks, following December’s sharp drawdown. Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist at MNI Indicators said, “The latest Chicago Report confirms that the US economic recovery continued in February, with New Orders and Production remaining at high levels.” “In line with the pick-up in demand, firms continued to rebuild inventory and just over 50% of respondents said they planned to increase stock levels over the next three months.” - ENDS - media@mni-indicators.com | www.mni-indicators.com | @MNIIndicators

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. media@mni-indicators.com | www.mni-indicators.com | @MNIIndicators

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