Economic Buzz: Chicago Business Barometer Slumped Sharply In April

2 May 2022 , 09:10 AM

After reporting a significant rebound in the pace of growth in Chicago-area business activity in the previous month, MNI Indicators released a report on Friday showing the pace growth pulled back in the month of April. MNI Indicators said its Chicago business barometer slumped to 56.4 in April after jumping to 62.9 in March, although a reading above 50 still indicates growth. The pullback by the Chicago business barometer came as the new orders index and the production index slid to their lowest levels since the summer of 2020. The new orders index plunged to 51.1 in April from 61.9 in March, while the production index tumbled to 50.9 in April from 60.0 in March. The employment index also fell to 45.5 in April from 48.1 in March.

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