Chicago Business Barometer Jumps to 58.8 in September, Topping Forecasts

The Chicago business barometer spiked to 58.8 in September from 47.1 in August, MNI Indicators reported Wednesday, far exceeding economists' expectations of 51.0. A reading above 50 signals growth. The rebound was driven by the production index, which soared 15.5 points to its highest level since May, and the new orders index, which surged 13.3 points, with some respondents citing a seasonal improvement in orders. The supplier deliveries index rose 9.6 points, while order backlogs climbed 8.4 points but remained in contraction. The employment index fell 4.3 points, returning to contraction after one month of expansion. The prices index eased 3.7 points, though responses continued to indicate upward price pressure.