Chicago Business Barometer – Declines to 49.7 in June

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The MNI Chicago Business Barometer decreased by 4.5 points to 49.7 in June from 54.2 in May, marking the first sub-50 reading since January 2017. Business confidence dipped significantly in Q2, with the Barometer averaging 52.2, down 13% on the previous quarter and almost 16% lower than Q2 2018. Demand eased for the fourth time this year, helping push the indicator into the contraction territory for the first time since January 2017. Amid weak demand, firms also slowed production levels. The Production indicator fell 15.5% on the quarter to hit a three-year low. Order Backlogs remained in contraction for the second ... (full story)