facebook
twitter
rss
account
search
search
 

Chicago business barometer rises

Jan. 31, 2013 at 1:02 PM   |   Comments

CHICAGO, Jan. 31 (UPI) -- The Chicago Business Barometer rose in January to the highest level in nine months, the Institute for Supply Management said Thursday.

The index, which covers business conditions in the industrial belt of Indiana, Illinois and Michigan, rose by 5.6 points to 55.6 with production and new orders reaching 10-month highs and the employment index at a seven-month high.

The production index rose from 52.4 in December to 60.9. The new orders index jumped from 50.4 to 58.2. The employment index, marking the number of employees, rose from 46.8, which indicated contraction, to 58, which indicates growth.

The index uses 50 as the dividing point between contraction and expansion.

The report, which is produced by the Institute of Supply Management-Chicago Inc. and Deutsche Borse AG, noted a gain in the inventory index from 48.7 to 55. Nationally, a sharp drop in business inventories contributed to the fourth quarter gross domestic product decline, the Commerce Department said this week.

In the region covered by the Chicago ISM report, the inventory index stood at 49.8 in October, 47.8 in November and 48.7 in December.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Only 1 in 5 insurers cover volcanic ash
2
Twinkies' Chicago facility to close
3
Corona Extra recalled due to glass particles in beer
4
GenDyn to study new guidance system for ICBMs
5
Damen, Astinave in patrol boat deal
Trending News
Video
x
Feedback