The Chicago Business BarometerTM provides a monthly snapshot of U.S. economic activity as seen by a survey panel of local purchasing and supply management professionals.
Given its position as a key leading indicator of U.S. gross domestic product (GDP), the Chicago Business Barometer™ frequently moves financial markets. Traders and analysts track it for clues to the Institute for Supply Management (ISM) index numbers which follow it by a day and with which the Chicago Business Barometer™ has been shown to be highly correlated.
The Chicago Business BarometerTM consists of seven Business Activity indicators and three Buying Policy indicators.
Business Activity indicators are diffusion indices and they represent the breadth of activity compared to the prior month. They include Production, New Orders, Order Backlogs, Inventories, Employment, Supplier Deliveries, and Prices Paid.
Buying Policy indicators provide a monthly measure for supplier performance of lead times or the average days required to source materials for three major categories of products. They are Production Materiel, Maintenance, Repair and Operations (M.R.O.) Supplies, and Capital Equipment.
MNI Chicago Report is produced in partnership with ISM-Chicago.