Updated: 08-Feb-22 19:11 ET
| April Chicago PMI |
 |
|
| Updated: 08-Feb-22 19:11 ET |
Highlights
- The MNI Chicago Business barometer, otherwise known as the Chicago PMI, dropped to 52.6 in April (Briefing.com consensus 58.2) from 58.7 in March.
- The April reading marks the lowest level for the index since January 2017.
Key Factors
- Order backlogs was the only barometer component that increased from March.
- The Employment indicator fell to its lowest level since October 2017.
- The summary indicates factory gate prices saw their biggest monthly drop since December 2008, which was attributed in large part to steel prices.
Big Picture
- The key takeaway from the report is the acknowledgment from the senior economist at MNI that most barometer components have fallen below their 12-month averages, which suggests greater business uncertainty among firms.
| Category | APR | MAR | FEB | JAN | DEC |
| Chicago PMI | 52.6 | 58.7 | 64.7 | 56.7 | 63.8 |
| New Orders | 54.6 | 59.8 | 68.4 | 53.2 | 67.9 |
| Production | 50.5 | 64.2 | 67.3 | 58.8 | 71.0 |
| Employment | 50.4 | 56.2 | 55.5 | 53.2 | 52.1 |
| Prices Paid | 50.8 | 64.5 | 71.2 | 67.0 | 65.6 |