- September 30, 2021
- Posted by: Stratford Team
- Category: Business
By Xavier Fontdegloria
Business activity in the Chicago area lost some momentum in September compared with the previous month, according to data from MNI Indicators released Thursday.
The Chicago Business Barometer decreased to 64.7 in September from 66.8 in August, the lowest reading since February and broadly matching economists expectations, who polled by The Wall Street Journal expected it to come in at 65.0.
The barometer is compiled after surveying companies in the Chicago area to assess business conditions. Readings above 50 point to expansion of activity, while readings below 50 indicate contraction. The indicator has signalled growth since July 2020.
The reading takes into account five components: new orders, order backlogs, production, supplier deliveries and employment.
Among the main five indicators, order backlogs saw the largest decline, followed by supplier deliveries and new orders. Employment increased in the…