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Chicago Business Barometer – Fell to 66.8 in August
The Chicago Business BarometerTM, produced with MNI, fell to 66.8 in August, the lowest reading since June after climbing to a two-month high in July. Order backlogs rose sharply while production sank. Firms say the available supply of raw materials and workers isn’t sufficient to keep up with new orders. Among the five main indicators, Order Backlogs saw the largest increase. That was followed by Supplier Deliveries, while Production saw the largest decline. Order Backlogs climbed 11.6 points to 81.6, the highest reading since 1951, as firms reported a shortage of materials, freight inconsistencies, and ... (full story)