Chicago Business Barometer Declines in August

The Chicago Business Barometer declined to 51.2 in August, registering its second consecutive reading above the 50-mark, according to data by the Institute for Supply Management (ISM) – Chicago.

Among the five main indicators, order backlogs was the only category to show a monthly decline, with supplier deliveries recorded the largest gain, as many companies reported increased business activity.

Production improved further in August, increasing 1.4 points to its highest level since June 2019.

Increased production was supported by higher demand, as new orders rose to a one-year high.

Employment ticked up 0.9 points but remained in contraction for the fourteenth straight month.