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Chicago Purchasing Managers Index up 7.1 points to 63.0 in April


Chicago Business Barometer Up 7.1 points to 63.0 in April New Orders and Production Expand Sharply to Highest Since October Employment Rebounds Amid Increased Orders and Production The Chicago Business Barometer increased to 63.0 in April from 55.9 in March, the fastest pace of growth for six months, led by sharp rises in New Orders and Production.

• New Orders and Production Expand Sharply to Highest Since October
• Employment Rebounds Amid Increased Orders and Production

The Chicago Business Barometer increased to 63.0 in April from 55.9 in March, the fastest pace of growth for six months, led by sharp rises in New Orders and
Production.

April’s gain, the second strongest outturn in two and a half years, left the three month trend in the Barometer just below the 60 level, consistent with continued recovery of the US economy. New Orders and Production increased sharply, while improvements in Order Backlogs and Employment also added to the month’s strong performance.

Employment rebounded, nearly offsetting March’s decline. Recent volatility in
Employment reflects the ebb and flow of demand, with many companies employing a
highly contingent workforce. Supplier Deliveries was the only component of the Barometer to expand at a slower pace in April. Faster delivery times were partially due to better weather conditions. Inventory of finished goods contracted at a slower pace and stood close to neutral. Prices Paid eased for the third consecutive month and remained at their lowest level for a year.

Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist at MNI
Indicators said, “Last month’s downturn appears to have been a blip with the
Barometer increasing sharply in April to the highest since October 2013.
Looking at both March and April in aggregate leaves the pace of growth steady at around the 60 mark, which chimes with continued growth in the US economy.”

“It’s a good start to the second quarter, and the increases in New Orders and
Production lend support to growing views that US GDP growth is set to accelerate,” he added.






Posted: April 30, 2014 Wednesday 09:45 AM




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